(a) There is created 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 “Arkansas Fire and Police Pension Guarantee Fund”.
(b) The fund shall consist of a portion of the taxes levied on insurers or any other state funds designated for support of fire and police retirement programs.
(c) The fund shall be used as provided in § 24-11-209 [repealed].