There Is a Newer Version
of
the Arizona Revised Statutes
2012 Arizona Revised Statutes
Title 15 Education
15-2003 Capital reserve fund
Universal Citation:
AZ Rev Stat § 15-2003 (through 2nd Reg Sess. 50th Leg. 2012)
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This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
15-2003. Capital reserve fund
A. A capital reserve fund is established consisting of monies that are credited to the fund from the new school facilities fund established by section 15-2041, subsection A.
B. The school facilities board shall administer the fund. On notice from the school facilities board, the state treasurer shall invest and reinvest monies in the fund as provided by section 35-313, and monies earned on investments shall be credited to the capital reserve fund.
C. Monies in the capital reserve fund are subject to legislative appropriation only to the deficiencies correction fund established by section 15-2021 or the new school facilities fund established by section 15-2041.
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