33-1120. Disposition of money remaining after redemption.
101 words·~1 min read·
/id/title-33-education/chapter-11-school-bonds/33-1120·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any money remaining in the bond interest and redemption fund of any school district after all of any issue of school bonds and all interest thereon have been paid, redeemed and canceled shall be held to apply against the redemption of any other bonds issued by the district or, such money may be credited to the school plant facilities reserve fund; if the district has not established such fund, such money may be transferred to the credit of the general fund of the district. Any transfer or credit authorized by this section shall be upon resolution of the board of trustees.