§ 19-5-1130 - Economic Development Superprojects Project Fund. - Arkansas Statutes

19-5-1130. Economic Development Superprojects Project Fund.

(a) There is created 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 "Economic Development Superprojects Project Fund".

(b) The fund may consist of the proceeds from the sale of bonds, together with all revenues derived by the Arkansas Development Finance Authority from any superproject financed or refinanced under 15-4-3012 or may consist of other funds authorized by law.

(c) This fund may be used to provide for payment of all or a part of debt service on bonds and to directly fund superprojects on a pay-as-you-go basis as set out in 15-4-3012 or to fund projects authorized under Arkansas Constitution, Amendment 82.