The board shall deposit all moneys into the bank selected as the fiscal agent of the city in which it is located, but only if the moneys draw the same rate of interest as the city receives on its deposits. Otherwise, the board shall make its own selection of the bank.
Deposit of moneys
Ark. Code Ann. § 24-12-108 — under Local Officers and Employees — Miscellaneous Provisions.
Ark. Code Ann. § 24-12-108