§ 63B-7-408. Creation of sinking fund.

Latest version.

(1) There is created a sinking fund, to be administered by the state treasurer, entitled the "1998 General Obligation Project Bonds Sinking Fund."

(2) All money deposited in the sinking fund, from whatever source, shall be used to pay debt service on the bonds.

(3) The proceeds of all taxes levied under this chapter are appropriated to this fund.

(4) The state treasurer may create separate accounts within the sinking fund for each series of bonds issued.

Enacted by Chapter 67, 1998 General Session

                    
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