(a)(1) When any housing authority which is created for any city or county becomes authorized to transact business and exercise its powers in it, the governing body of the city or county, as the case may be, shall immediately make an estimate of the amount of money necessary for the administrative expenses and overhead of the authority during the first year. The governing body shall appropriate that amount to the authority out of any moneys in the treasury of the city or county not appropriated to some other purpose.(2) The moneys so appropriated shall be paid to the authority as a donation.(b)(1) Any city, town, or county located, in whole or in part, within the area of operation of a housing authority shall have the power from time to time to lend or donate money to the authority or agree to take such action.(2) The authority, when it has money available, shall make reimbursements for all such loans made to it by way of loans.Acts 1937, No. 298, § 26; Pope's Dig., § 10084; A.S.A. 1947, § 19-3031. (a)(1) When any housing authority which is created for any city or county becomes authorized to transact business and exercise its powers in it, the governing body of the city or county, as the case may be, shall immediately make an estimate of the amount of money necessary for the administrative expenses and overhead of the authority during the first year. The governing body shall appropriate that amount to the authority out of any moneys in the treasury of the city or county not appropriated to some other purpose.(2) The moneys so appropriated shall be paid to the authority as a donation.(b)(1) Any city, town, or county located, in whole or in part, within the area of operation of a housing authority shall have the power from time to time to lend or donate money to the authority or agree to take such action.(2) The authority, when it has money available, shall make reimbursements for all such loans made to it by way of loans.Acts 1937, No. 298, § 26; Pope's Dig., § 10084; A.S.A. 1947, § 19-3031.
Arkansas Legal Code