Arizona Laws 28-6747. Sale of bonds; highway improvement fund; disposition of proceeds; use of surplus monies
A. The board of supervisors shall:
Terms Used In Arizona Laws 28-6747
- Board: means the transportation board. See Arizona Laws 28-101
- Contract: A legal written agreement that becomes binding when signed.
- County highway: means a public road that is constructed and maintained by a county. See Arizona Laws 28-101
- highway: means the entire width between the boundary lines of every way if a part of the way is open to the use of the public for purposes of vehicular travel. See Arizona Laws 28-101
- State: means a state of the United States and the District of Columbia. See Arizona Laws 28-101
- Writing: includes printing. See Arizona Laws 1-215
1. Sell bonds issued under this article in the same manner as other county bonds.
2. Deposit the proceeds in the highway improvement fund to be paid out by the county treasurer only on order of the county highway commission and to be used only for the purpose for which they were authorized at the election.
B. Any surplus remaining in the fund after completion of the improvement for which the bonds were voted shall be transferred to the general road fund of the county and the board of supervisors may spend the surplus either for repair of county roads or for construction of state highways or roads connecting with state highways.
C. If the county highway commission determines that a surplus of more than one hundred thousand dollars remains in the fund after completion of all work under the contract, it may report that fact in writing to the board. The board of supervisors shall direct the county highway commission to spend the surplus on designated state highways or roads connecting with state highways without waiting for completion of the work on the improvement of the highways for which the bonds were voted. The county highway commission shall direct the expenditure of this surplus.