17-5-708. Special fund revenues.
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/mt/title-17/chapter-5/part-7/17-5-708·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
17-5-708 . Special fund revenues.
(1)If a law authorizing a coal severance tax bond issue for a specific purpose and in a specific amount contemplates the pledge and receipt of revenues, assets, or money other than or in addition to the money in the coal severance tax bond fund, then the money derived from such pledged revenues, assets, and money must be paid into a special bond fund for the benefit of such bonds, which must be part of a debt service fund of the state treasury fund structure.
(2)Money must be withdrawn from the coal severance tax bond fund and paid to the special bond fund as necessary to provide for payment of principal and interest on the coal severance tax bonds secured by a pledge of the special bond fund.