7-33-2111. Fire district capital improvement fund. The trustees of a fire district may establish a capital improvement fund. The fund may be used for the acquisition and replacement of equipment or facilities, including real property. The cost of the equipment must exceed $5,000, and the equipment must have a life expectancy of 5 years or more.

     History: En. Sec. 1, Ch. 224, L. 1991; amd. Sec. 3, Ch. 443, L. 2001.