72-2-121.1. Highway Projects Within Counties Fund -- Accounting for revenues -- Interest -- Expenditure of revenues.
(1) There is created a special revenue fund within the Transportation Fund known as the "Highway Projects Within Counties Fund."
(2) The Highway Projects Within Counties Fund shall be funded by revenues generated by a tax imposed by a county under Section, if those revenues are allocated: 59-12-2216 for a state highway within the county; and in accordance with Section. 59-12-2216
(3) The department shall make a separate accounting for: the revenues described in Subsection; and (2) each county for which revenues are deposited into the Highway Projects Within Counties Fund.
(4) The Highway Projects Within Counties Fund shall earn interest. The department shall allocate the interest earned on the Highway Projects Within Counties Fund: proportionately; to each county's balance in the Highway Projects Within Counties Fund; and on the basis of each county's balance in the Highway Projects Within Counties Fund.
(5) The department shall expend the revenues and interest deposited into the Highway Projects Within Counties Fund to pay: for a state highway project within the county for which the requirements of Subsectionare met; 59-12-2216(6) debt service on a project described in Subsection; or (5)(a) bond issuance costs related to a project described in Subsection. (5)(a)