15-1467. State aid appropriations; disbursement procedure; district fund A. Appropriations for state aid to districts shall be distributed to each community college district in accordance with section 15-1466. B. The state treasurer shall disburse one-fourth of the annual amount of the monies to each district in the first month of each quarter for the support and maintenance of the district, to be expended as provided by law. If no community college exists, the department shall establish a fund for new future districts to be disbursed as needed. C. Notwithstanding subsection B of this section, a district may request the state treasurer to disburse the monies to the local government investment pool for deposit into the district's account as established in section 35-326.
Arizona Legal Code