85-3-422. Tax certified by weather modification authority -- disposition of proceeds.
85-3-422. Tax certified by weather modification authority -- disposition of proceeds. (1) The authority may certify annually to the board of county commissioners a tax on the taxable value of all taxable property in the county for a weather modification fund. Subject to 15-10-420, the tax may be levied by the board of county commissioners. The weather modification fund may be used only for weather modification activities as provided by 85-3-424. The tax certified by the authority is limited to the period of existence of the authority.
(2) The money in the weather modification fund must be invested to earn interest at the rate most advantageous to the fund, consistent with law and prudent business practice.
History: En. Sec. 5, Ch. 609, L. 1983; amd. Sec. 151, Ch. 584, L. 1999; amd. Sec. 241, Ch. 574, L. 2001.