Opinion ID: 1512960
Heading Depth: 1
Heading Rank: 2

Heading: The Usual And Ordianry Meaning Of Words

Text: If one were to ask an ordinary person, Where do you keep your funds? the answer might be, In the bank, or it might be, Partly in stocks, partly in bonds, some real estate, and some cash. Funds in the bank are only a credit. A credit is not money. Having one's funds in stocks and bonds would also be having one's funds in something other than money. Funds is the plural of fund. Fund means a quantity of material resources maintained or available as a source of supply. Websters International Dictionary 920 (3d ed. 1961). On the other hand the word money has a more limited definition. Money means a medium of exchange. Websters International Dictionary 1458 (3d ed. 1961); See also Quinn-Moore v. Lambert, 272 Ark. 324, 614 S.W.2d 230 (1981). The dollar is the monetary unit that constitutes the medium of exchange in the United States. Thus, the majority opinion limits the meaning of the phrase partially supported by public funds, to partially supported by United States dollars. In short, the majority opinion does not give the word funds its usual and ordinary meaning. Construction To Accomplish Act's Purpose In this case the City, over the period of the lease, has given and will give to the local chapter the fair rental value of the lot that exceeds one dollar per year. The amount of this gift is monetarily determinable. It is a subsidy that causes a depletion of the public funds just as certainly as if the subsidy were by dollar bills. A construction that gives meaning to the laudable purposes of the Act would require disclosure by an organization that is partially supported by public services, or goods, or property, just as surely as it does one supported by public dollars. Accordingly, I dissent.