Ark. Code Ann. § 15-4-1809
This is the official text of Ark. Code Ann. § 15-4-1809, part of Arkansas’s Code Ann — part of the compiled statutory law of Arkansas, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Payments
Official statutory text
(a) Payments of state assistance to state agencies and political subdivisions under this subchapter shall be made by remitting them directly to the trustee for the holders of the bonds issued to finance the eligible facility. (b) The trustee shall apply the state assistance money to the payment or redemption of the bonds and to the payment of interest thereon. (c) When the bonds issued to finance the eligible facility are fully retired or the investment of the state agency or political subdivision of its revenues in the eligible facility has been repaid with accrued and accruing interest, any money then held by the trustee derived from the state assistance shall be returned to the Treasurer of State and deposited into the State Treasury as general revenues to the credit of the General Revenue Fund Account of the State Apportionment Fund, and future eligibility for that project shall be terminated. Acts 1993, No. 1165, § 12.
(a) Payments of state assistance to state agencies and political subdivisions under this subchapter shall be made by remitting them directly to the trustee for the holders of the bonds issued to finance the eligible facility.
(b) The trustee shall apply the state assistance money to the payment or redemption of the bonds and to the payment of interest thereon.
(c) When the bonds issued to finance the eligible facility are fully retired or the investment of the state agency or political subdivision of its revenues in the eligible facility has been repaid with accrued and accruing interest, any money then held by the trustee derived from the state assistance shall be returned to the Treasurer of State and deposited into the State Treasury as general revenues to the credit of the General Revenue Fund Account of the State Apportionment Fund, and future eligibility for that project shall be terminated.
Acts 1993, No. 1165, § 12.
(a) Payments of state assistance to state agencies and political subdivisions under this subchapter shall be made by remitting them directly to the trustee for the holders of the bonds issued to finance the eligible facility.
(b) The trustee shall apply the state assistance money to the payment or redemption of the bonds and to the payment of interest thereon.
(c) When the bonds issued to finance the eligible facility are fully retired or the investment of the state agency or political subdivision of its revenues in the eligible facility has been repaid with accrued and accruing interest, any money then held by the trustee derived from the state assistance shall be returned to the Treasurer of State and deposited into the State Treasury as general revenues to the credit of the General Revenue Fund Account of the State Apportionment Fund, and future eligibility for that project shall be terminated.
Acts 1993, No. 1165, § 12.
Status: in_force
Need a lawyer in Arkansas?
Find a Arkansas lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.