55-25-9 - Payment of tax proceeds to depository of district; advance of county or municipal funds to district.
§ 55-25-9. Payment of tax proceeds to depository of district; advance of county or municipal funds to district.
The board of supervisors of each county and the governing authorities of each municipality becoming a member of a district shall annually, on or before March 15 of each year beginning with the calendar year in which the district is created, pay or cause to be paid to the depository of the district the total avails from the taxes levied pursuant to Section 55-25-7 for the purpose of supporting the district. Such payment shall be made and continued as long as the district remains in existence, there is need therefor, and the county and municipality remain a part thereof.
Any municipality or county participating in a district may advance funds to the district to pay the preliminary expenses of the district, including reports, organization and administration expenses, on such terms of repayment as the governing body of the county or municipality shall determine.
Sources: Laws, 1994, ch. 574, § 5, eff from and after passage (approved April 7, 1994).