(a) The Arkansas Natural Resources Commission is authorized to establish, maintain, and administer the "Arkansas Water Development Fund", which shall be used for the payment of any water development project costs set out in ยง 15-22-506 and to discharge obligations pertaining to the principal of and interest on any water development bond issued by the commission.
(b) The fund may consist of the following:
(1) Cash funds, from whatever source received, on deposit by the commission in any one (1) or more banks qualifying for the deposit of public funds;
(2) Savings accounts in any one (1) or more banks qualifying for such deposits of public funds; and
(3) Bonds of the United States.
Section: Previous 15-22-502 15-22-503 15-22-504 15-22-505 15-22-506 15-22-507 15-22-511 15-22-512 15-22-513 15-22-514 NextLast modified: November 15, 2016