15-1028. Disposition of surplus tax
monies
A. If a bond issue and interest thereon have been fully paid and a balance remains
in the debt service fund from taxes collected for payment of the bonds and interest, the
balance may be applied on the payment of other outstanding bonded indebtedness of the
school district payable from the levy of taxes on property within the school district in
which the excess tax monies were collected, or if there is no outstanding bonded
indebtedness, the balance remaining in or accruing to the debt service fund shall, upon
written request of the governing board of the school district, be transferred to the
general fund of the school district.
B. When a school bond issue and interest thereon have been fully paid and a tax
levy has thereafter been made upon and taxes collected from property the situs of which
is in a school district other than the original school district for which the levy was
made, such taxes shall belong to the school district from which they were collected, and
the county treasurer shall credit such taxes to the general school fund of the school
district. The taxes may be expended by the governing board of the school district as
other monies in its general school fund are expended.
|