48-4505. District funds; allocation of revenues; purposes

196 words·~1 min read·/az/title-48/48-4505

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A. The district shall establish and maintain a general fund and a water acquisition fund in addition to the bond fund established under section 48-4549.

B. The general fund consists of revenues received from:

1. The portion of the district's ad valorem property tax levy under section 48-4503 that is allocated for administration costs, costs of acquiring district water and capacity costs, other than amounts levied for the payment of bonds and bond related expenses.

2. The portion of the groundwater augmentation fees that is transferred to the district pursuant to section 48-4504.

3. Sales of state demonstration project water that the district acquires under section 45-896.01. Proceeds from selling demonstration project water shall be separately accounted for and spent only for capacity costs.

4. The portion of the district's water acquisition fund representing capacity costs recovered through the replenishment tax under section 48-4501.

C. The water acquisition fund consists of revenues received from the replenishment tax under sections 48-4470, 48-4472 and 48-4501.

D. The district shall pay:

1. Its administrative costs, costs of acquiring district water and capacity costs only from the general fund.

2. Its water acquisition costs only from the water acquisition fund.