TITLE 7. LOCAL GOVERNMENT

CHAPTER 7. DEBT MANAGEMENT

Part 42. Municipal General Obligation Bonds

Disposition Of Sale Proceeds

7-7-4260. Disposition of sale proceeds. All money arising from the sale of the bonds shall be paid to the city treasurer or town clerk and shall be immediately available for the purpose for which the bonds were issued and for no other purpose.

History: En. Sec. 19, Ch. 160, L. 1931; re-en. Sec. 5278.19, R.C.M. 1935; amd. Sec. 2, Ch. 326, L. 1974; R.C.M. 1947, 11-2319(part).