7-34-2138. Hospital district capital replacement fund.
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7-34-2138 . Hospital district capital replacement fund.
(1)A hospital district may establish a capital replacement fund. The fund may be used only for the replacement of property, plant facilities, or equipment. The cost of such capital equipment must exceed $5,000 and have a life expectancy of 5 years or more.
(2)A capital replacement fund established under subsection
(1)may not exceed 10% of the total value of the hospital's property, plant facilities, and equipment at the end of a fiscal year.