A. The smart highway corridor trust fund is established consisting of the following:

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Terms Used In Arizona Laws 28-7387

  • Department: means the department of transportation acting directly or through its duly authorized officers and agents. 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

1. Legislative appropriations.

2. Monies received from the sales or leases of rights-of-way, telecommunication facilities and telecommunication services pursuant to sections 28-7385 and 28-7386.

3. Monies received from providers to reimburse costs for compensation claims pursuant to section 28-7382.

B. Monies in the smart highway corridor trust fund shall be used for the following:

1. The maintenance, operation and expansion of telecommunication facilities and telecommunication services within rights-of-way that are managed by the department.

2. The payment of compensation pursuant to section 28-7382.

C. The department shall administer the fund. Monies in the fund are continuously appropriated. Monies in the fund are exempt from the provisions of section 35-190 relating to lapsing of appropriations.

D. On notice from the department, the state treasurer shall invest and divest monies in the fund as provided by section 35-313, and monies earned from investment shall be credited to the fund.