28-7387. Smart highway corridor trust fund; purpose
160 words·~1 min read·
/az/title-28/28-7387A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. The smart highway corridor trust fund is established consisting of the following:
1. Legislative appropriations.
2. Monies received from the sales or leases of rights-of-way, telecommunication facilities and telecommunication services pursuant to sections 28-7385 and 28-7386.
3. Monies received from providers to reimburse costs for compensation claims pursuant to section 28-7382.
B. Monies in the smart highway corridor trust fund shall be used for the following:
1. The maintenance, operation and expansion of telecommunication facilities and telecommunication services within rights-of-way that are managed by the department.
2. The payment of compensation pursuant to section 28-7382.
C. The department shall administer the fund. Monies in the fund are continuously appropriated. Monies in the fund are exempt from the provisions of section 35-190 relating to lapsing of appropriations.
D. On notice from the department, the state treasurer shall invest and divest monies in the fund as provided by section 35-313, and monies earned from investment shall be credited to the fund.