Statutes > Arkansas Statutes > Title 14 - Local Government > Subtitle 11 - Economic Development Improvement Districts, Facilities, And Authorities > Chapter 186 - Harbors And Port Facilities Generally > Subchapter 2 - Municipal Port Authorities > § 14-186-214 - Deposit and payment of funds.

§ 14-186-214 - Deposit and payment of funds.

14-186-214. Deposit and payment of funds.

(a) All municipal port authority funds shall be deposited in banks to be designated by the authority.

(b) No funds of the authority shall be disbursed except for a purpose authorized by this subchapter and only when the account or expenditure for which it is to be given in payment has been approved by the authority.