§ 15-5-1704 - Establishment of Arkansas Housing Trust Fund. - Arkansas Statutes

15-5-1704. Establishment of Arkansas Housing Trust Fund.

(a) There is established on the books of the Arkansas Development Finance Authority a special restricted fund, to be known as the "Arkansas Housing Trust Fund", which shall be maintained and administered by the authority for the purposes stated in this subchapter.

(b) All moneys deposited into the housing trust fund under this subchapter are cash funds restricted in their use and shall not be deposited into the State Treasury or deemed to be a part of the State Treasury for the purposes of Arkansas Constitution, Article 5, 29, Article 16, 12, or Amendment 20 or any other constitutional or statutory provisions but shall be held by the authority and used solely for the purposes stated under this subchapter.