Ark. Code Ann. § 19-7-909: Disposition of funds

(a) All moneys received by a political subdivision pursuant to § 19-7-907 or § 19-7-908 shall be deposited into such funds or items of a fund as may be designated in the agreement.

(b) If the agreement does not make such designation, the moneys shall be deposited into such funds or items of a fund as the governing body of the subdivision shall, by appropriate resolution, direct.