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Arkansas Code Title 12. Law Enforcement, Emergency Management, and Military Affairs § 12-41-806. Matching funds

Current as of March 28, 2024 | Updated by Findlaw Staff

(a)(1) Grant and loan funds shall only be awarded under this subchapter upon submission of evidence of the ability to provide an amount of local public or private dollars, or both, equal to or greater than one-third ( 1/3 ) of the state's capital grant contribution to any project.

(2) In no event shall the state capital grant contribution to any project authorized under this subchapter exceed the sum of one hundred fifty thousand dollars ($150,000).

(b) Any revolving loan funds utilized in meeting the total cost of any project authorized under this subchapter shall be interest free and shall have terms not to exceed ten (10) years.

(c) Any award of funds under this section shall be subject to review and approval by the Division of Youth Services, which shall promulgate rules to effectuate the provisions of this section.

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Cite this article: FindLaw.com - Arkansas Code Title 12. Law Enforcement, Emergency Management, and Military Affairs § 12-41-806. Matching funds - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-12-law-enforcement-emergency-management-and-military-affairs/ar-code-sect-12-41-806/

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