§ 14-284-404 - Use of funds to defray training expenses and for purchase and improvement of equipment.
14-284-404. Use of funds to defray training expenses and for purchase and improvement of equipment.
(a) (1) Such funds shall be used to defray training expenses of fire fighters at the Arkansas Fire Training Academy and fire training centers certified by the Arkansas Fire Protection Services Board, for the purchase and improvement of, or for pledging as security for a period of not more than ten (10) years in the financing of the purchase and improvement of, fire fighting equipment and initial capital construction or improvements of fire departments.
(2) Municipalities, fire departments, and districts must expend or allocate for expenditure all funds received under the provisions of this subchapter on or before the expiration of twelve (12) months from the date of receipt.
(3) Any excess or surplus funds which are not expended or allocated for expenditure within such twelve-month period shall be remitted to the fund no later than sixty (60) days following the expiration of such twelve-month period.
(b) Such equipment shall be used by the municipalities and departments located in fire protection districts which have been duly formed or established under the provisions of 14-284-201 et seq.