Arkansas Code Title 22. Public Property § 22-9-104. Proposed capital expenditures

(1) Identify each public works construction project proposed to be constructed or obligated by construction contract by the governmental body during the next biennial period of the state;

(2) Indicate a method of financing the construction through state appropriation, federal grants, revenue bonds, or revenue notes provided by law, the use of agency or institutional receipts, the use of donated funds from private sources, or a combination of one (1) or more such sources; and

(3) Be accompanied by estimates of the cost of maintaining and operating the capital improvement facility once constructed.

(d)(1) In unusual circumstances between sessions of the General Assembly, a state agency, department, or institution which needs to make a capital expenditure in excess of two hundred fifty thousand dollars ($250,000), which has not been approved by the General Assembly, may submit a request for the expenditure to the Chief Fiscal Officer of the State, who shall review the request and submit his or her recommendation for the method of finance for the expenditure to the Legislative Council for its advice and recommendation.

(2) Upon obtaining the advice and recommendation of the Legislative Council, the state agency, department, or institution is authorized to proceed with the capital expenditure, subject to the provisions of the General Accounting and Budgetary Procedures Law, § 19-4-101 et seq., and other fiscal laws of the state.