AR HB1271

Appropriates $52,000,000 to the Office of the Treasurer of State for College Savings and Higher Education General Obligation Bonds debt service for fiscal year 2011-2012, consisting of $20,000,000 for refunds/reimbursements and $32,000,000 for debt service.

Appropriates $68,000,000 to the Office of the Treasurer of State for Water, Waste Disposal, and Pollution Abatement General Obligation Bonds debt service for fiscal year 2011-2012, consisting of $40,000,000 for refunds/reimbursements and $28,000,000 for debt service.

Authorizes the State Treasurer to transfer funds from the Refunds/Reimbursement line item to the Debt Service line item if appropriations for maturing bonds and interest payments are insufficient, effective July 1, 2011 through June 30, 2012.

Requires all fund disbursements to comply with Arkansas state procurement, accounting, budgetary procedures, revenue stabilization, and fiscal control laws and regulations.

Declares an emergency clause, making the act effective July 1, 2011, as required for proper agency operations and in compliance with the Arkansas Constitution's one-year appropriation limit.