11-42-414 - Remaining interest and other money in assessment fund to be transferred to the guaranty fund or the local entity's general fund.
11-42-414. Remaining interest and other money in assessment fund to betransferred to the guaranty fund or the local entity's general fund.
The treasurer of each local entity that collects interest from the investment of anassessment fund or that receives penalties, costs, and other amounts for the benefit and credit ofan assessment that remain after all local entity obligations are paid in full and cancelled shalltransfer the remaining amount to:
(1) the guaranty fund, if required by bond covenants; or
(2) the local entity's general fund.
Enacted by Chapter 329, 2007 General Session