(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 “Ouachita River Waterways Project Trust Fund”.
(b) The fund shall consist of:(1) Those moneys approved by the General Assembly; and(2) The interest income earned from the investment of moneys accruing to the fund.
(1) Those moneys approved by the General Assembly; and
(2) The interest income earned from the investment of moneys accruing to the fund.
(c) (1) The fund may be used for such purposes authorized by law, including without limitation wildlife and recreation purposes and bank stabilization.(2) The fund shall not be used for bend cuts or bend widenings.
(1) The fund may be used for such purposes authorized by law, including without limitation wildlife and recreation purposes and bank stabilization.
(2) The fund shall not be used for bend cuts or bend widenings.
(d) (1) 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 Ouachita River Commission.(2) Funds shall not be invested for longer than a continuous two-year period.
(1) 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 Ouachita River Commission.
(2) Funds shall not be invested for longer than a continuous two-year period.