3-269. Fertilizer materials trust fund
225 words·~1 min read·
/az/title-3/3-269A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. The fertilizer materials trust fund is established for the exclusive purpose of implementing, continuing and supporting the agricultural program established by this article. Except as provided in section 3-272, subsection B, paragraph 2, all monies collected under the provisions of this article shall be deposited in the trust fund.
B. The director shall administer the trust fund as trustee. The state treasurer shall accept, separately account for and hold in trust any monies deposited in the state treasury, which are considered to be trust monies as defined in section 35-310 and which shall not be commingled with any other monies in the state treasury except for investment purposes. On notice from the director, the state treasurer shall invest and divest any trust fund monies deposited in the state treasury as provided by sections 35-313 and 35-314.03, and monies earned from the investment shall be credited to the trust fund.
C. The beneficiary of the trust is the agricultural program established by this article. The trust fund shall be used solely for the purposes of this article on the order of the director.
D. The fertilizer materials trust fund shall be exempt from the provisions of section 35-190 relating to lapsing appropriations. Surplus monies, including any unexpended and unencumbered balance at the end of the fiscal year, do not revert to the state general fund.