US Laws, Codes, Statutes & Cases

§9A-1-11. Establishment of veterans facilities support fund; authorized expenditures.

There is hereby created in the state treasury a special revenue fund to be designated and known as the veterans facilities support fund. All interest or other returns earned on the investment of the moneys in the fund shall be credited to the fund. Funds paid into the account shall be derived from the following sources: (1) Any gift, grant, bequest, endowed fund or donation which may be received by any veterans facility created by statute from any governmental entity or unit or any person, firm, foundation or corporation; and (2) all interest or other return on investment accruing to the fund. Moneys in the fund are to be used for the operational costs of any veterans facility created by statute, the acquisition, design, construction, equipping, furnishing, including, without limitation, the payment of debt service on bonds issued to finance the foregoing and/or as otherwise designated or specified by the donor. Any balance, including accrued interest or other earnings, in this special fund at the end of any fiscal year shall not revert to the general revenue fund but shall remain in the fund. Funds from the veterans facility support fund for operational costs will be distributed by appropriation of the Legislature. Funds from the veterans facility support fund for the acquisition, design, construction, equipping, furnishing, including, without limitation, the payment of debt service on bonds issued to finance the veterans nursing home shall be transferred to the veterans nursing home building fund upon written request of the director of the division of veterans affairs to the investment management board and the state treasurer in accordance with the provisions of this section.