Arkansas § 14-168-321 Excess funds

Arkansas Statutes

§ 14-168-321 — Excess funds

Arkansas § 14-168-321

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This text of Arkansas § 14-168-321 (Excess funds) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 14-168-321 (2026).

Text

(a)Moneys received in the special fund of the district in excess of amounts needed to pay project costs may be used only by the local governing body for the redemption of outstanding bonds, notes, or other evidences of indebtedness issued by the redevelopment district or for distribution to any taxing unit in such amounts as may be determined by the local governing body.

(b)Upon termination of the district, all amounts in the special fund of the district may be used by the local governing body for any lawful purpose.

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(a) Moneys received in the special fund of the district in excess of amounts needed to pay project costs may be used only by the local governing body for the redemption of outstanding bonds, notes, or other evidences of indebtedness issued by the redevelopment district or for distribution to any taxing unit in such amounts as may be determined by the local governing body. (b) Upon termination of the district, all amounts in the special fund of the district may be used by the local governing body for any lawful purpose.