60-2-212. Better local bridge state special revenue account -- rulemaking.
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60-2-212 . Better local bridge state special revenue account -- rulemaking.
(1)There is an account in the state special revenue fund provided for in 17-2-102 to be known as the better local bridge fund account to the credit of the department of transportation.
(2)There must be deposited in the account money received pursuant to 17-1-405 .
(3)The account may be used for:
(a)grants to local government for the costs associated with engineering and construction of local, off-system bridges; and
(b)administrative costs for the department of transportation, not to exceed 5% of revenue received.
(4)Grants to local governments must include no less than 20% local matching funds.
(5)The department shall enact rules for distribution of annual grants to local governments.
(6)The account retains its own interest.