Ark. Code Ann. § 26-74-505

Cessation of tax levy

Year: 2026Length: 122 words
Any tax levied under this subchapter shall cease to be collected when the indebtedness has been paid or redeemed. It is recognized that the tax cannot practically be stopped at the exact time the indebtedness is paid or redeemed, so nominal excess may result. Therefore, any surplus shall be transferred to the county general fund. Acts 1991, No. 1091, § 5. Any tax levied under this subchapter shall cease to be collected when the indebtedness has been paid or redeemed. It is recognized that the tax cannot practically be stopped at the exact time the indebtedness is paid or redeemed, so nominal excess may result. Therefore, any surplus shall be transferred to the county general fund. Acts 1991, No. 1091, § 5.
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