Q Our municipality had a tax levy to retire school bonds. The bonds have been retired, and there is still money remaining in the bond retirement sinking fund. How may we transfer this money to another fund?

A Section 27-105-367 governs the transfer of surplus funds for municipalities and counties. As per subsection (3) (b), such surplus bond and interest fund dollars may be transferred to the general fund by board action in accordance with subsection (1). A transfer to other funds may be made in accordance with subsection (2) (b), which includes a publication requirement. (Attorney General’s Opinion to Latimer, June 13, 2014)