Sec. 15. (a) The fiscal officer shall:
(1) establish a subdivision drain repair fund; and
(2) create a separate account within the fund for each subdivision with which the executive enters into a contract under this chapter.
(b) The fund established under subsection (a) shall be administered by the fiscal officer. Money in the fund not currently needed to meet the obligations of the fund may be invested in the same manner as other public funds may be invested. Interest that accrues from these investments shall be deposited in the fund. Money in the fund at the end of a fiscal year does not revert to the unit's general fund.
(c) The fiscal officer shall deposit assessments imposed on owners of property in a subdivision into the account created under subsection (a)(2) for that subdivision unless the assessments are immediately needed to pay the cost of repairing subdivision drains in that subdivision.
(d) The fiscal officer may withdraw money from the account of a subdivision as needed to pay the cost of repairing subdivision drains in that subdivision.
As added by P.L.139-2018, SEC.2.