48-1600 - Arizona Statutes

48-1600. Use of tax funds; transfer of surplus funds All money raised by taxation on the estimated assessment and levy for purposes required by this chapter shall be applied to the objects for which the levy is made and shall be used for no other purposes, except that if there is a surplus in a fund at any time when there no longer is a demand for money in the fund, the board of directors may by order duly entered upon its minutes direct the treasurer of the district to transfer the surplus to any other fund against which there are outstanding obligations.