1.Fund established. There is established in each county one unorganized territory fund to which must be credited all receipts under Title 12, section 10203 and Title 36, sections 1487, 1505, 1606 and 1612 and all other receipts that are allocated for municipal services in the unorganized territory, and from which all disbursements for municipal services in the unorganized territory are made. [2017, c. 193, §1(AMD).]
2.Prior receipts and surpluses. All money received by the county for municipal services for the unorganized territory before September 23, 1983, and remaining unspent shall be deposited into the fund. Any surplus in revenue remaining in the fund at the end of the year, not including amounts allocated to the contingent account or set aside in capital reserve accounts established after November 1, 1983, which is in excess of 10% of the amount of expenditures for that year, shall be used to reduce the amount to be collected in taxes during the next year. [1987, c. 737, Pt. A, §2(NEW); 1987, c. 737, Pt. C, §106(NEW); 1989, c. 6(AMD); 1989, c. 9, §2(AMD); 1989, c. 104, Pt. C, §§8, 10(AMD).]
3.Commingling; interest. This fund shall be accounted for separately from the funds raised for countywide activities. The return on investment of unorganized territory funds shall be credited to those funds and shall be used only for the unorganized territories. No countywide funds, nor return on investments of countywide funds, may be used to fund expenditures for services that a county is providing to unorganized territories in place of municipal government. [1987, c. 737, Pt. A, §2(NEW); 1987, c. 737, Pt. C, §106(NEW); 1989, c. 6(AMD); 1989, c. 9, §2(AMD); 1989, c. 104, Pt. C, §§8, 10(AMD).]
4.Uses of the fund. The fund may be used for any of the services authorized in section 7501 in any area of the unorganized territory of the county. [1987, c. 737, Pt. A, §2(NEW); 1987, c. 737, Pt. C, §106(NEW); 1989, c. 6(AMD); 1989, c. 9, §2(AMD); 1989, c. 104, Pt. C, §§8, 10(AMD).]
5.Contingent account. The county commissioners may establish within the fund a contingent account not to exceed $25,000 annually. Funds within the contingent account may be transferred to any other account within the fund when those accounts are not sufficient to meet the needs for municipal services to the unorganized territory of the county. [1987, c. 737, Pt. A, §2(NEW); 1987, c. 737, Pt. C, §106(NEW); 1989, c. 6(AMD); 1989, c. 9, §2(AMD); 1989, c. 104, Pt. C, §§8, 10(AMD).]
6.Capital reserve accounts. The county commissioners may establish capital reserve accounts by following the procedures specified in section 921. [1987, c. 737, Pt. A, §2(NEW); 1987, c. 737, Pt. C, §106(NEW); 1989, c. 6(AMD); 1989, c. 9, §2(AMD); 1989, c. 104, Pt. C, §§8, 10(AMD).]
Amended by 2017, c. 193,§ 1, eff. 11/1/2017.1987, c. 737, §§A2,C106 (NEW) . 1989, c. 6, (AMD) . 1989, c. 9, § 2 (AMD) . 1989, c. 104, §§C8,10 (AMD) . 2003, c. 414, §B47 (AMD) . 2003, c. 414, §D7 (AFF) . 2003, c. 614, § 9 (AFF) . 2007, c. 541, Pt. F, §2 (AMD) .