§ 15-5-1202 - Purpose. - Arkansas Statutes

15-5-1202. Purpose.

The purpose of this subchapter is to provide for the benefit of the public an additional method for financing remediation costs and costs of compensating tank owners or operators for third-party claims from the Petroleum Storage Tank Trust Fund. This financing program is made available on terms and conditions prescribed by this subchapter, and it is found and determined that this subchapter is in furtherance of a public purpose and that the duties imposed upon the Arkansas Development Finance Authority in this subchapter are in furtherance of the conservation of the environment and for the protection of the public health, welfare, and safety.