Ark. Code Ann. § 14-301-207: Disposition of assessments collected

All funds derived from assessments upon real property under the provisions of this subchapter shall be funds of the municipality, shall at all times be kept separate and apart from other funds of the municipality, and shall be used solely to reimburse the municipality for expenses incurred in making the study and survey provided for in § 14-301-202 and for funds expended by the municipality for the street improvements made pursuant to the provisions of this subchapter.