45-1972 - Arizona Statutes

45-1972. Groundwater augmentation and conservation assistance fee; transfer to authority A. Within sixty days after the authority is formed, the department shall transfer to the secretary-treasurer of the authority one-half of all unencumbered monies and the accrued interest on those monies that were collected in the active management area in which the authority is located during the prior year pursuant to section 45-611, subsection C, paragraph 2. B. Each year the director shall transfer an amount of not more than two hundred thousand dollars to the secretary-treasurer of the authority from the monies collected in that year in the active management area in which the authority is located pursuant to section 45-611, subsection C, paragraphs 2 and 3. The director shall specify the amount from each funding source to be transferred. C. The secretary-treasurer shall deposit the transferred monies in the general fund of the authority, and the authority may spend the monies to carry out the purposes of this chapter.