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Arizona Revised Statutes Title 28. Transportation § 28-7387. Smart highway corridor trust fund; purpose

Current as of January 01, 2025 | Updated by Findlaw Staff

A. The smart highway corridor trust fund is established consisting of the following:

1. Legislative appropriations.

2. Monies received from the sales or leases of rights-of-way, telecommunication facilities and telecommunication services pursuant to §§ 28-7385 and 28-7386.

3. Monies received from providers to reimburse costs for compensation claims pursuant to § 28-7382.

B. Monies in the smart highway corridor trust fund shall be used for the following:

1. The maintenance, operation and expansion of telecommunication facilities and telecommunication services within rights-of-way that are managed by the department.

2. The payment of compensation pursuant to § 28-7382.

C. The department shall administer the fund. Monies in the fund are continuously appropriated. Monies in the fund are exempt from the provisions of § 35-190 relating to lapsing of appropriations.

D. On notice from the department, the state treasurer shall invest and divest monies in the fund as provided by § 35-313, and monies earned from investment shall be credited to the fund.

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Cite this article: FindLaw.com - Arizona Revised Statutes Title 28. Transportation § 28-7387. Smart highway corridor trust fund; purpose - last updated January 01, 2025 | https://codes.findlaw.com/az/title-28-transportation/az-rev-st-sect-28-7387/

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