§ 19-5-1109 - Ouachita River Waterways Project Trust Fund. - Arkansas Statutes

19-5-1109. Ouachita River Waterways Project Trust Fund.

(a) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a trust fund to be known as the Ouachita River Waterways Project Trust Fund.

(b) This fund shall consist of those moneys approved by the General Assembly and the interest income earned from the investment of funds accruing to the Ouachita River Waterways Project Trust Fund.

(c) (1) It may be used for such purposes authorized by law, including, but not limited to, wildlife and recreation purposes and bank stabilization.

(2) The funds shall not be used for bend cuts or bend widenings.

(d) Investment of the funds available shall be by the Treasurer of State in such amounts and in such manner as may be directed by the Ouachita River Commission. In no event, however, shall the funds be invested for longer than a continuous two-year period.