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Current as of March 28, 2024 | Updated by FindLaw Staff
(a) In addition to being available for use in the operation of the Arkansas Natural Resources Commission for current water development project costs and for such other and additional purposes as provided for by law, appropriated funds for the maintenance of the commission may be used in the discretion of the commission for meeting the debt service requirements of outstanding revenue bonds issued by the commission including the retirement thereof in advance of maturity by call or purchase on tender.
(b) However, no tax moneys appropriated for maintenance of the commission may be pledged, as distinguished from used, to meet the debt service requirements of any revenue bonds issued by the commission.
Cite this article: FindLaw.com - Arkansas Code Title 15. Natural Resources and Economic Development § 15-22-513. Use of appropriated funds - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-15-natural-resources-and-economic-development/ar-code-sect-15-22-513/
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