§ 14-269-205 - Commissioners -- Park fund. - Arkansas Statutes

14-269-205. Commissioners -- Park fund.

(a) The commissioners appointed pursuant to this subchapter shall have the authority to utilize all revenues derived from the operation of the recreational park in the operation of the recreational park.

(b) (1) All funds derived from the use of the recreational park shall be segregated into a park fund, which fund shall be used exclusively in the operation of the recreational park by the commissioners.

(2) Moneys in the fund shall not be mingled with other funds of the city and shall be handled exclusively by the commissioners.

(c) (1) The commissioners shall each furnish to the city a five thousand dollar ($5,000) surety bond that will serve to insure the city against any misappropriation or mishandling of funds.

(2) The surety on the bonds shall be a reputable surety corporation.

(3) The premium on the bonds shall be paid from moneys in the park fund.

(d) (1) The commissioners shall receive no salary for their services but shall be reimbursed from the park fund for actual expenses incurred in the performance of their duties.

(2) The park fund may also be expended by the commissioners, as they deem best, for the purpose of obtaining attractions to meet on the park.