§ 15-22-513 - Use of appropriated funds. - Arkansas Statutes

15-22-513. Use of appropriated funds.

(a) In addition to being available for use in the operation of the Arkansas Natural Resources Commission for current water development project costs and for such other and additional purposes as provided for by law, appropriated funds for the maintenance of the commission may be used in the discretion of the commission for meeting the debt service requirements of outstanding revenue bonds issued by the commission including the retirement thereof in advance of maturity by call or purchase on tender.

(b) However, no tax moneys appropriated for maintenance of the commission may be pledged, as distinguished from used, to meet the debt service requirements of any revenue bonds issued by the commission.