Arkansas Code Title 14. Local Government § 14-361-122. Joint fund creation

(a)(1) For the purpose of providing a joint board with moneys for the necessary expenditures in carrying out the provisions of this section and §§ 14-361-118 -- 14-361-121, a joint fund shall be created and maintained, into which shall be deposited the share of each of the constituent public agencies as provided by the joint agreement.

(2) Each of the constituent public agencies shall provide its share of the fund from sources available to each.

(b)(1) Any federal, state, or other contributions or loans, and the revenues obtained from the joint ownership, control, and operation of any airport or air navigation facility under the jurisdiction of the joint board, shall be paid into the joint fund.

(2) Disbursements from the fund shall be made by order of the board, subject to the limitations prescribed in § 14-361-121.