19-9-155 - Limitations on expenditure of funds by situs counties.
§ 19-9-155. Limitations on expenditure of funds by situs counties.
Of the funds retained by the situs county after the payment made pursuant to Section 19-9-153, not more than Five Million Five Hundred Thousand Dollars ($5,500,000.00) per year may be expended by the board of supervisors of the county for any purposes for which a county is authorized by law to levy an ad valorem tax, and any funds in excess of such amount shall be expended in accordance with Section 19-9-157.
Sources: Laws, 1986, ch. 507, § 4, eff from and after passage (approved April 23, 1986).