Arizona Laws 41-5790. Investment of monies in school improvement revenue bond debt service fund
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A. The board may authorize the state treasurer or bond trustee to invest and reinvest any monies in the school improvement revenue bond debt service fund as provided by section 41-5791.
Terms Used In Arizona Laws 41-5790
- Board: means the school facilities oversight board. See Arizona Laws 41-5701
- Trustee: A person or institution holding and administering property in trust.
B. All monies earned as interest or otherwise derived from the investment of the monies in the school improvement revenue bond debt service fund shall be credited to that fund.