19-2675.   Building fund; transfer of unexpended balance.Whenever the board of county commissioners of any county having apopulation of more than ten thousand (10,000) and not more than fifteenthousand (15,000) and having an assessed valuation of more than thirtymillion dollars ($30,000,000) and not more than forty million dollars($40,000,000) which has established a building fund and levied a taxtherefor for the purpose of constructing a courthouse and a jail in suchcounty and has prior to the effective date of this act constructed a countyjail and made improvements to an existing courthouse, shall by resolutiondetermine that the purpose for which such levy was made has been fulfilledand discontinued and that all indebtedness and obligations of such fundhave been fully paid and cancelled, and the unexpended balance, stating theamount, is not presently and will not in the future be required for suchpurpose by reason of the fact that such purpose has been fulfilled and hasbeen discontinued, such unexpended balance shall be transferred to andcredited to the general fund of the county. The tax levies for the generalfund of the county for the succeeding budget year shall be reducedaccordingly and said moneys shall be considered and used as revenue in lieuof ad valorem taxes in such budget year.

      History:   L. 1971, ch. 87, § 1; July 1.