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



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



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