Tax increments deposited in special fund--Municipal appropriations to fund--Investment of moneys in fund.

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  5. Tax increments deposited in special fund--Municipal appropriations to fund--Investment of moneys in fund.

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11-9-31. Tax increments deposited in special fund--Municipal appropriations to fund--Investment of moneys in fund.

All tax increments received in a district shall, upon receipt by the municipal treasurer or finance officer, be deposited into a special fund for the district. The municipal treasurer or finance officer may deposit additional moneys into the fund pursuant to an appropriation by the governing body. Subject to any agreement with bondholders, moneys in the fund may be temporarily invested in the same manner as other municipal funds.

Source: SL 1978, ch 91, §18; SL 2018, ch 70, §32.


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