Revolving fund

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  1. (a) A property assessed energy improvement district may maintain a revolving fund to be held in trust by a banking institution chosen by the board of directors of the district separate from any other funds and administered by the board.

  2. (b) A district may transfer into its revolving fund money from any permissible source, including:

    1. (1) Bond revenues;

    2. (2) Contributions; and

    3. (3) Loans.


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