Arkansas Code Title 14. Local Government § 14-123-506. Report by tax collector

(a) When the time for payment of levee taxes as provided by law shall have expired, the several collectors of taxes shall cease to collect the taxes and shall at once make up a report to the board of directors of the district of all taxes collected for the current year.

(b) This report, together with the tax books, shall be delivered by the collector to the board on or before December 15. At the time of delivery of the report and tax books, the collector shall make final settlement with the board for all taxes collected during the current year.

(c) If any such collector shall fail to make final settlement within the time herein fixed, he shall be chargeable with a penalty for each day that he may be delinquent with the settlement, in a sum equal to five percent (5%) of the amount of compensation to which he would otherwise be entitled.