Sec. 15. (a) All proceeds from the sale of bonds issued under this chapter shall be deposited in a separate fund known as the local county road and bridge district construction fund. Monies in the fund shall be used to pay for:
(1) any lands or rights-of-way to be acquired for roads or bridges, or both, within the local county road and bridge district;
(2) any capital improvement necessary for the construction, reconstruction, or operation of roads or bridges, or both, within the local county road and bridge district; and
(3) any other necessary expenses incurred in carrying out the project.
Monies in the fund may not be used to pay the salaries of employees of the qualified county.
(b) Monies in the fund shall be deposited with any depository of public funds of the qualified county. Interest accruing on monies in the fund belongs to the fund.
As added by Acts 1981, P.L.88, SEC.13.
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