§ 27-72-317 - County Road Construction and Maintenance Revolving Fund. - Arkansas Statutes

27-72-317. County Road Construction and Maintenance Revolving Fund.

(a) There is created and established on the books of the Treasurer of State, Auditor of State, and Chief Fiscal Officer of the State, in the State Treasury, a fund to be designated and known as the County Road Construction and Maintenance Revolving Fund, the exclusive jurisdiction for the administration of which is vested in the Chief Fiscal Officer of the State, subject, however, to the limitations, conditions, uses, and purposes hereinafter prescribed.

(b) For each fiscal year, the Treasurer of State and Auditor of State, from time to time shall transfer upon their books of record, upon certification by the Chief Fiscal Officer of the State, from the Budget Stabilization Trust Fund to the County Road Construction and Maintenance Revolving Fund, sums of money as may be required to accomplish the purposes of this act. In no event and at no time shall the accumulative transfers in the total exceed the sum of two million five hundred thousand dollars ($2,500,000).