(a) The Arkansas Natural Resources Commission is authorized to make either loans or grants to local governments to provide them with the nonfederal interest's share of the cost share for a water resources development project.(b)(1) The commission shall not make a loan or grant to a local government for more than fifty percent (50%) of the total project cost for a water resources development project.(2) If the commission determines to provide assistance for a water resources project without the requirement of the execution of a cooperative agreement, the commission may provide up to sixty-five percent (65%) of the total project cost in the form of a loan or grant to the local government.Acts 1989, No. 257, § 5; 2001, No. 1039, § 1.
Arkansas Legal Code