3-1085 - Arizona Statutes

3-1085. Cotton research and protection council fund; use by director A. The cotton research and protection council fund is established for the purpose of administering this article. The council shall administer the fund. The fund consists of penalties collected pursuant to sections 3-204 and 3-205, fees and other income collected pursuant to this article. B. The director may request the use of fund monies for the abatement of upland cotton fields and for those purposes provided for under the abatement provisions of sections 3-204 and 3-205. Monies distributed pursuant to this subsection shall be repaid to the fund within one calendar year after their disbursement, but the council may extend the repayment period at its discretion and set the terms and conditions for repayment. C. The council may deposit monies from fees assessed pursuant to section 3-1086 in the fund. The council shall deposit monies from penalties collected pursuant to section 3-204 in the fund. D. The monies in the fund may be invested pursuant to section 35-313. Interest earned on these monies shall be credited to the fund.