Statutes > Arkansas Statutes > Title 15 - Natural Resources and Economic Development > Subtitle 1 - Development Of Economic And Natural Resources Generally > Chapter 5 - Arkansas Development Finance Authority > Subchapter 9 - Construction Assistance Revolving Loans > § 15-5-905 - Federal grants deposited into fund.

§ 15-5-905 - Federal grants deposited into fund.

15-5-905. Federal grants deposited into fund.

(a) The Arkansas Natural Resources Commission and the Arkansas Development Finance Authority may accept moneys for deposit into the Construction Assistance Revolving Loan Fund from allocations from the Treasurer of State under this section.

(b) Notwithstanding the provisions of 19-6-108 and 19-6-601, grants received by the Treasurer of State from the federal government for deposit into the Construction Assistance Revolving Loan Fund are declared to be cash funds restricted in their use and dedicated and are to be used solely as authorized in this subchapter.