The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
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This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
48-2082 - Revolving fund; lapsing provisions; separate fund
48-2082. Revolving fund; lapsing provisions; separate fund
A. The board may establish a revolving fund to aid the construction of public improvements under this chapter. The board may provide for transfers into such fund from any lawful source.
B. All unexpended balances of appropriations from the fund remaining after the appropriations lapse 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, aid in the payments made to the construction contractor, provide for the payment of the district's share of any improvement authorized under this article or provide monies to pay the assessments levied against public property.