§46-110  Tax increment fund.  (a)  Moneyshall be disbursed from the tax increment fund for a tax increment districtonly to satisfy the claims of holders of tax increment bonds issued for the taxincrement district or to pay project costs for the district, or to makepayments to the county as provided by subsection (c).

(b)  Subject to an agreement with the holdersof tax increment bonds, money in a tax increment fund may be temporarilyinvested in the same manner as other funds of the county.

(c)  In any year in which the tax incrementexceeds the amount necessary to pay all project costs and all installments ofprincipal and interest of tax increment bonds issued for a tax incrementdistrict falling due and the amount paid to the county general fund pursuant tosection 46-105(b)(2)(B), and subject to any agreement with bondholders, anyexcess money in the fund at the option of the county council, shall be used toredeem or purchase any outstanding tax increment bonds issued for the district,discharge the pledge of tax increment therefor, be paid into an escrow accountdedicated to the payment of such bonds, be paid over to the county generalfund, or any combination thereof. [L 1985, c 267, pt of §1]