2005 Arizona Revised Statutes - Revised Statutes §48-6282  Investment of monies in debt service account

(Conditionally Rpld.)

A. The board may authorize the district fiscal agent to invest and reinvest any monies in the debt service account as provided by section 48-6283.

B. The order directing an investment shall state a date on which the monies and other resources in the debt service account will be needed for use, and the fiscal agent shall make the investment in such a way as to mature on or before the specified date.

C. All monies earned as interest or otherwise derived from the investment of the monies in the debt service account shall be credited to the district's general fund.