19-2675. Building fund; transfer of unexpended balance.
19-2675
19-2675. Building fund; transfer of unexpended balance.
Whenever the board of county commissioners of any county having a
population of more than ten thousand (10,000) and not more than fifteen
thousand (15,000) and having an assessed valuation of more than thirty
million dollars ($30,000,000) and not more than forty million dollars
($40,000,000) which has established a building fund and levied a tax
therefor for the purpose of constructing a courthouse and a jail in such
county and has prior to the effective date of this act constructed a county
jail and made improvements to an existing courthouse, shall by resolution
determine that the purpose for which such levy was made has been fulfilled
and discontinued and that all indebtedness and obligations of such fund
have been fully paid and cancelled, and the unexpended balance, stating the
amount, is not presently and will not in the future be required for such
purpose by reason of the fact that such purpose has been fulfilled and has
been discontinued, such unexpended balance shall be transferred to and
credited to the general fund of the county. The tax levies for the general
fund of the county for the succeeding budget year shall be reduced
accordingly and said moneys shall be considered and used as revenue in lieu
of ad valorem taxes in such budget year.
History: L. 1971, ch. 87, § 1; July 1.