17-7-205. Long-range building program account. (1) There is a long-range building program account in the capital projects fund type.
(2) Cigarette tax revenue is deposited in the account pursuant to 16-11-119.
(3) Coal severance taxes allocated to the account under 15-35-108 may be appropriated for the long-range building program or debt service payments on building projects. Coal severance taxes required for general obligation bond debt service may be transferred to the debt service fund.
(4) Interest earnings, project carryover funds, administrative fees, and miscellaneous revenue must be retained in the account.
History: En. Sec. 3, Ch. 456, L. 1995; amd. Sec. 13, Ch. 387, L. 2011.