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§ 48-963 Revolving fund; lapsing provisions; separate fund

AZ Rev Stat § 48-963 (2019) (N/A)
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48-963. Revolving fund; lapsing provisions; separate fund

A. The board of supervisors may create a revolving fund in the county treasury to aid in the construction of public improvements under this article. The board of supervisors may provide for payments into such fund from any lawful source including but not limited to payments from the proceeds of the sale of bonds of the county issued for street improvement purposes, monies in the public works reserve fund or from the general fund or monies returned to the county from motor vehicle fuel and user taxes collected by the state.

B. All unexpended balances of appropriations from the fund remaining after the appropriations lapse according to law shall revert to the fund.

C. The fund established pursuant to this section shall be kept separate and apart from all other funds.

D. The monies in the revolving fund may be used to purchase bond anticipation notes, to aid in the payments made to the construction contractor, to provide for the payment of the county's share of any improvement authorized under this article or to provide monies to pay the assessments levied against public property.

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