(a) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a special revenue fund to be known as the “Road and Bridge Repair, Maintenance, and Grants Fund”.
(b) The fund shall consist of:
(1) Moneys collected under § 26-58-124, as designated under § 26-58-124(c)(2); and
(2) Any other revenues authorized by law.
(c) The fund shall be used for the maintenance, operation, and improvement required by the Arkansas Department of Transportation in carrying out the functions, powers, and duties stated in Arkansas Constitution, Amendment 42, §§ 27-65-102 — 27-65-107, 27-65-110, 27-65-122, and 27-65-124, and the other laws of this state prescribing the powers and duties of the department and the State Highway Commission.