71-605. Same; distribution, when; credit to general fund. The distribution of the appropriation for state grants shall be made in substantially equal payments on August 1 and January 1 of each fiscal year, or as soon thereafter as possible. The state board shall certify, on or before July 20 and December 20 of each fiscal year, to the director of accounts and reports the amount due on August 1 or on January 1, as the case may be, to each community college entitled to a state grant from such appropriation, and the director of accounts and reports shall draw a warrant upon the state treasurer in favor of the community college for such amount. Upon receipt of the warrant, the treasurer of the community college shall credit the amount of the warrant to the general fund of the community college.

History: L. 1961, ch. 363, § 6; L. 1963, ch. 390, § 6; L. 1965, ch. 417, § 22; L. 1968, ch. 211, § 17; L. 1973, ch. 274, § 9; L. 1980, ch. 207, § 32; L. 1986, ch. 259, § 3; L. 1987, ch. 273, § 2; L. 1999, ch. 147, § 43; July 1, 2000.