(A) Affirmation. There is hereby established a fund on the books of the County Treasurer as a sub fund of the County Road Fund [#2000] to track the revenues and expenditures of the wholesale tax on gasoline and diesel as levied by Act 416 of 2019.
(B) Establishment of fund. There is hereby created on the books of the Jackson County Treasurer a fund to be known as the Additional Motor Fuel Tax Fund (Act 416 of 2019) with a fund number of 2003 as assigned by Arkansas Legislative Audit. The Revenue Code for the county highway turnback receipted to this fund is 7002.
(C) Operation of the fund. The Additional Motor Fuel Tax Fund (Act 416 of 2019) is subject to all normal county budgeting, appropriation and expenditure regulations of Title 14 and Title 27 in the Arkansas Code Annotated. The fund is subject to annual reporting and disclosure requirements to be submitted to the Director of the Department of Finance and Administration. The report shall detail the (a) amount of highway revenue turnback revenues received; (b) expenditures made from the highway turnback revenues received; and (c) projects funded using the highway revenue turnback.
(Ord. 2019-6, passed 12-16-19)