Arizona Revised Statutes Title 15. Education § 15-1447. Community college district collegiate special plate funds; purpose

A. A community college district with a full-time equivalent student enrollment pursuant to § 15-1466.01 of more than five hundred students shall establish a community college district collegiate special plate fund consisting of monies received pursuant to § 28-2412. The district shall administer the fund. All monies in the fund shall be used only for academic scholarships.

B. The fund established pursuant to this section is exempt from § 35-190 relating to lapsing of appropriations. At the direction of the community college district, the state treasurer may invest and divest inactive monies in the fund as provided by § 35-313. The state treasurer shall credit all interest earned on the fund monies to the fund.