Section R2-15-309. Surplus Materials Revolving Funds

A.      The Surplus Property Administrator may, after a determination that a portion of the monies in the state surplus materials revolving fund is uncommitted for a period of three months, authorize the State Treasurer to deposit that portion of the monies in a government-insured depository institution offering a rate of return with maturity of 13 months or less from the date of purchase. All interest earned shall be credited to the revolving fund.

B.       The federal surplus materials revolving fund shall be main- tained in accordance with the state plan of operation.

Historical Note

Adopted as an emergency effective January 1, 1985, pur- suant to A.R.S. § 41-1003, valid for only 90 days (Supp. 84-6). Emergency expired. Permanent rule adopted effec- tive April 3, 1985 (Supp. 85-2). Transferred from R2-7-

809  (Supp. 91-3). Amended by final rulemaking at 10

A.A.R. 3267, effective September 24, 2004 (Supp. 04-3).