§ 19-5-1002 - Motor Vehicle Acquisition Revolving Fund. - Arkansas Statutes

19-5-1002. Motor Vehicle Acquisition Revolving Fund.

(a) There is established on the books of the Treasurer of State, the the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "Motor Vehicle Acquisition Revolving Fund".

(b) This fund shall be used for the purpose of acquiring motor vehicles as authorized by 22-8-201 -- 22-8-209.

(c) The fund shall be financed by:

(1) Its proportionate share of moneys made available from the allocation of general revenues as authorized by the Revenue Stabilization Law, 19-5-101 et seq.;

(2) Moneys made available upon the disposal of used vehicles, which moneys shall be deposited to the credit of the Motor Vehicle Acquisition Revolving Fund rather than being deposited to the owing state agency's fund;

(3) Deposits of moneys from benefiting state agencies; and

(4) Transfers from other Treasury funds and fund accounts of benefiting state agencies.