20-9-514. Impact aid fund.
100 words·~1 min read·
/mt/title-20/chapter-9/part-5/20-9-514·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
20-9-514 . Impact aid fund.
(1)The trustees of a district that receives federal funds under the provisions of impact aid, as provided in 20 U.S.C. 7701, et seq., shall establish an impact aid fund. Money received under the provisions of 20 U.S.C. 7701, et seq., must be deposited with the county treasurer to the credit of the impact aid fund.
(2)The expenditure of money from the impact aid fund must be made pursuant to 20 U.S.C. 7701, et seq. The impact aid fund must be administered pursuant to the financial administration provisions of this title for nonbudgeted funds.