§ 36-9-25-34 — Deposit and use of fees; revolving fund for payment of preliminary expenses

(a) All revenues derived from the collection
of fees for sewage treatment become a part of the sanitary maintenance
and general expense fund established under section 32 of this chapter
and shall be deposited, held, and used as provided in that section,
except any part that the board sets aside in the sanitary district bond
fund established under section 29 of this chapter or the sinking fund
established under section 41 of this chapter.
(b) The board may appropriate and set aside from the sanitary
maintenance and general expense fund an amount of money to be used
as a revolving fund for the payment of necessary preliminary expenses
incurred by the board in connection with proposed projects, such as
making surveys, estimating cost, employing engineers and other
employees, preparing plans and specifications, and all other expenses
to be paid before the issuance and sale of bonds under section 27 of
this chapter.
(c) The revolving fund shall be fully repaid by the board out of the
first proceeds of the sale of bonds to the extent that the expenses paid
are chargeable to the cost of acquiring land or construction under a
resolution adopted and confirmed under section 18 of this chapter. The
appropriations to the revolving fund shall be made in accordance with
statutes governing appropriations by municipal corporations, but it is
not necessary to appropriate the money set aside in the revolving fund
before making expenditures from it.
[Pre-Local Government Recodification Citations:
19-2-14-25; 19-2-20-9.]
As added by Acts 1981, P.L.309, SEC.98. Amended by
P.L.80-1997, SEC.22.