Arizona Revised Statutes § 15-2003 Capital Reserve Fund

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.

Section: Previous  15-1891  15-1895  15-1896  15-1901  15-1911  15-2001  15-2002  15-2003  15-2004  15-2005  15-2006  15-2011  15-2022  15-2032  15-2041  Next

Last modified: October 13, 2016