§ 19-3-512 - Estimate of deposits not needed for operations. - Arkansas Statutes

19-3-512. Estimate of deposits not needed for operations.

(a) The Treasurer of State, in conjunction with the Chief Fiscal Officer of the State, shall determine what amount of state funds will be available in the next period that may be placed by the State Board of Finance into the State Treasury Certificate of Deposit Investment Program as provided in 19-3-519 during the next period. Interest shall be paid on these deposits as provided in 19-3-511.

(b) The Treasurer of State, acting ministerially, shall have the authority to take such action and do such things as shall be necessary to accomplish the expressed purposes and intent of this section.