17-36-52 - Tax stability and trust fund -- Deposit or investment of funds -- Use of interest or other income.
17-36-52. Tax stability and trust fund -- Deposit or investment of funds -- Use ofinterest or other income.
(1) All amounts in the tax stability and trust fund established by a county under Section17-36-51 may be deposited or invested as provided in Section 51-7-11. These amounts may alsobe transferred by the county treasurer to the state treasurer under Section 51-7-5 for the treasurer'smanagement and control under Title 51, Chapter 7, State Money Management Act.
(2) The interest or other income realized from amounts in the tax stability and trust fundshall be returned to the general fund of the county during the fiscal year in which the income orinterest is paid to the extent the interest or income is required by the county to provide for itspurposes during that fiscal year. Any amounts so returned may be used for all purposes as otheramounts in such general fund. Any interest or income not so returned to the county's general fundshall be added to the principal of that county's tax stability and trust fund.
Renumbered and Amended by Chapter 133, 2000 General Session