Ark. Code Ann. § 27-64-411

Any designated revenues and any proceeds of bonds held pending disbursement on highway improvements, shall be invested by the State Highway Commission to the full extent practicable pending disbursement for the purposes intended. Notwithstanding any other provision of law, such investments shall be in accordance with the terms of the resolution or trust indenture authorizing or securing the series of bonds to which said designated revenues or bond proceeds appertain to the extent the terms of such resolution or trust indenture are applicable.