Q: If a city or county has surplus funds from a bond issue, after completing the bond projects and retiring all outstanding bonds, can the remaining funds be transferred to the general fund for other uses?

A: Yes. The surplus funds in the bond and interest fund may be transferred to the general fund in accordance with subsection (1) of Section 27-105-367 or to other funds in accordance with subsection (2)(b) of Section 27-105-367. (Attorney General's Opinion to Barrett dated January 23, 2009)