2005 Arizona Revised Statutes - Revised Statutes §15-1467  State aid appropriations; disbursement procedure; district fund

A. Appropriations for state aid to districts shall be distributed to each community college district in accordance with section 15-1466.

B. On July 15, October 15, January 15 and April 15, each district shall present to the department of administration a claim for one-fourth of the annual amount appropriated to the district. The department of administration shall draw a warrant in payment of the claim and transmit the warrant to the state treasurer who shall disburse the funds to each district for the support and maintenance of the district, to be expended as provided by law. If no community college exists, the department shall establish a fund for new future districts to be disbursed as needed.

C. Notwithstanding subsection B of this section, a district may request the state treasurer to disburse the monies to the local government investment pool for deposit into the district's account as established in section 35-326.