12-17,148.   Same; fund of the district.A separate fund shall be created for each district and eachproject and such fund shall be identified by a suitable title. The proceedsfrom the sale of bonds, any special assessment and transportationdevelopment district sales tax authorized, levied and collected under thisact by the municipalityand any other moneys appropriated by the governing bodyfor such purpose shall be credited to such fund. Such fund shall be used solelyto pay the costs of the project. Upon payment of the principal and interest onthe bonds, if any, the municipality shall have the authority to spend anymoneys remaining in the fund for the purposes for which local sales taxreceipts may be spent.

      History:   L. 2003, ch. 120, § 12;L. 2009, ch. 54, § 6; July 1.