Arizona Revised Statutes Title 45. Waters § 45-1212.01. Dam repair fund

A. The dam repair fund is established consisting of monies appropriated by the legislature, and monies collected by the director in full or partial satisfaction of a lien created by § 45-1212, subsection D and monies collected pursuant to § 45-1220.

B. Monies in the fund shall be used to carry out the purposes of this chapter.

C. The director shall annually report to the legislature on the status of the fund and the purposes for which monies were expended during the preceding calendar year. The report shall be submitted pursuant to § 41-1178 no later than fifteen days after the commencement of each regular session.

D. The director shall administer the fund. On notice from the director, 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. Monies in the dam repair fund are exempt from the provisions of § 35-190 relating to lapsing of appropriations.