The Morgan County Industrial Park and Economic Development Cooperative District shall maintain the Morgan County Economic Development Fund originally created by Act 2007-339, 2007 Regular Session (Acts 2007, p. 602). The Morgan County Economic Development Fund and the monies contained in the fund shall be the property of the district. The district shall invest the monies as provided by law for the investment of funds of the participating local governments, as defined in Section 45-52-161. The district shall use the monies for economic purposes in, or for the benefit of, Morgan County to the extent any of the participating local governments, as defined in Section 45-52-161, could apply the monies for those purposes. Any monies in the Morgan County Economic Development Fund on September 30, 2025, pursuant to former Section 45-52-161.06, or any other provision of law, shall remain in the fund on October 1, 2025.
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