Excess tax collections.
This bill provides that the specific purpose tax collected in excess of the amount required to complete the project will be held by the county treasurer in an interest bearing account. These funds shall be expended only for a specific purpose project approved by the voters in the five year period immediately following the completion of the initial specific purpose project.
If these excess funds are not spent on another specific purpose project within 5 years, these funds will be distributed within the county based on population. These additional funds must be used for the construction of roads, streets, water systems, and sewers.
Prepared by: Dean Temte, LSO Phone: 777-7881