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(a) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the “Port Priority Improvement Fund”.
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(b)
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(1) The fund shall consist of the funds or other moneys that may be deposited into the fund as provided by the General Assembly.
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(2) The fund shall be used for the purpose of providing financial assistance to public port authorities as set out in the Arkansas Port Priority Improvement Program Act, § 15-23-901 et seq., and for development of port infrastructure, including engineering and construction costs.
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