§ 9.1. Any mosquito abatement district organized under the provisions of this Act in the
preparation of its annual budget and appropriation ordinance may provide that an amount
equal to not more than one-half of one percent of the total equalized assessed value
of real property situated in the district shall be allocated to and accumulated in
a Capital Improvement, Repair or Replacement Fund for the purposes of specific capital
improvements, repairs or replacements of specific types of district equipment or other
real or personal property. Expenditures from the Capital Improvement, Repair or Replacement Fund shall be budgeted
and appropriated for the fiscal year in which the capital improvement, repair or replacement
will occur. Upon completion or abandonment of any object or purpose for which a Capital Improvement,
Repair or Replacement Fund has been initiated, monies remaining in such fund shall
be transferred into the general corporate fund of the district on the first day of
the fiscal year following such abandonment or completion resulting in such surplus
monies in such fund.
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