A.R.S. § 28-7387: Smart highway corridor trust fund; purpose

A. The smart highway corridor trust fund is established consisting of the following:

1. Legislative appropriations.

2. Monies received from the sales or leases of rights-of-way, telecommunication facilities and telecommunication services pursuant to sections 28-7385 and 28-7386.

3. Monies received from providers to reimburse costs for compensation claims pursuant to section 28-7382.

B. Monies in the smart highway corridor trust fund shall be used for the following:

1. The maintenance, operation and expansion of telecommunication facilities and telecommunication services within rights-of-way that are managed by the department.

2. The payment of compensation pursuant to section 28-7382.

C. The department shall administer the fund. Monies in the fund are continuously appropriated. Monies in the fund are exempt from the provisions of section 35-190 relating to lapsing of appropriations.

D. On notice from the department, the state treasurer shall invest and divest monies in the fund as provided by section 35-313, and monies earned from investment shall be credited to the fund.