48-3125. Application of tax monies; exceptions
as to surplus
A. All money raised by taxation on the estimated assessment and levy for purposes
authorized by this chapter shall be applied to the objects for which levied, and may be
used for no other purpose, but if there is a surplus in a fund at any time, and there is
no demand for the money in such fund, the board of directors may by order entered upon
its minutes direct the treasurer of the district to transfer the surplus to another
fund. When the purposes of a fund for which taxes have previously been levied have been
satisfied by monies from another source, and there are no outstanding warrants against
such fund, the district treasurer shall upon order of the board deposit all monies
thereafter collected on account of such fund into another fund or funds designated by the
order of the board.
B. When the purposes of a fund for which district taxes have previously been levied
in any year or years have been satisfied by refinancing or refunding of the district's
outstanding bonds and other indebtedness, and there are no outstanding warrants or other
obligations or indebtedness against such fund, upon order of the board of directors of
the district, the board of supervisors of each county in which any portion of the lands
of the district are located shall adopt a resolution releasing all lands in the county
upon which district taxes for such purposes remain unpaid from the lien of the taxes,
interest, costs and penalties, and directing that the lien be cancelled upon the books of
the county treasurer of the county, and the treasurer of the district.
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