(1)(a) All amounts in the tax stability and trust fund established by a county under
Section 17-36-51 may be deposited or invested as provided in Section 51-7-11.
(b) The amounts described in Subsection (1)(a) may also be transferred by the county
treasurer to the state treasurer under Section 51-7-5 for the treasurer's management and control under Title 51, Chapter 7, State Money
(2)(a) The interest or other income realized from amounts in the tax stability and
trust fund shall be returned to the county general fund during the fiscal year in
which the income or interest is paid to the extent the interest or income is required
by the county to provide for its purposes during that fiscal year.
(b) An amount returned in accordance with Subsection (2)(a) may be used for all purposes
as other amounts in the county general fund.
(c) Any interest or income that is not returned to the county general fund in accordance
with Subsection (2)(a) shall be added to the principal of that county's tax stability
and trust fund.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Response sent, thank you
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.