Section 4.31.063. Use of interest earned on grant proceeds.

Latest version.

Interest on proceeds of grant money appropriated for approved projects shall be held by the district to pay for project cost overruns, change orders, contract amendments, contractor's claims, or other modifications necessary because of unavoidable or unforeseeable circumstances that are not the result of imprudent management, as determined by the commissioner. If at the completion of the project, any money earned as interest remains, the district shall transfer that amount to a district capital account for school capital projects.

Authorities

14.07.060;14.11.100;14.11.132

Notes

Authority
 AS 14.07.060  
AS 14.11.100  
AS 14.11.132  
History Eff. 2/8/86, Register 97; am 7/11/86, Register 99; am 12/19/2002, Register 164; am 6/17/2010, Register 194

                    
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