Sec 37-526. Central Arizona project municipal and industrial repayment fund

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A. The central Arizona project municipal and industrial repayment fund is established consisting of:

1. Revenues from the transfer of central Arizona project municipal and industrial water rights and the sale of central Arizona project municipal and industrial water pursuant to section 37-106.01.

2. Monies appropriated to the fund by the legislature.

B. Monies in the fund shall be used to make payments charged to this state under the central Arizona project municipal and industrial water service subcontract among the United States, the central Arizona water conservation district and this state. Any monies remaining in the fund after satisfying the subcontract obligations revert to the state general fund.

                    
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