(a) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a trust fund to be known as the 'Red River Waterways Project Trust Fund'.(b) The Red River Waterways Project Trust Fund shall consist of those moneys approved by the General Assembly from the Budget Stabilization Trust Fund and the interest income earned from the investment of funds accruing to the Red River Waterways Project Trust Fund.(c) The Red River Waterways Project Trust Fund may be used for such purposes as may be authorized by law.(d) Investment of the funds available shall be by the Treasurer of State in such amounts and in such manner as may be directed by the Red River Commission. In no event, however, shall the funds be invested for longer than a continuous two-year period.Acts 1973, No. 750, § 8; 1977, No. 955, § 17; A.S.A. 1947, § 13-531.
Arkansas Legal Code