7-7-2264. Statement as to amount of principal and interest due and payable on bonds.
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/mt/title-7/chapter-7/part-22/7-7-2264·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
7-7-2264 . Statement as to amount of principal and interest due and payable on bonds.
(1)Whenever any county has any issue or series of bonds outstanding and there are not sufficient funds on hand available for the payment of the full amount of the interest and principal thereof, the county treasurer of such county shall, between the first and fifth days of August in each year while such bonds or any thereof remain outstanding and unpaid, make out and deliver to the board of county commissioners of such county a statement.
(2)The statement required by subsection
(1)shall show the amount required to be raised by tax levy during the then-current fiscal year for payment of interest and principal becoming due and payable during such fiscal year or within 90 days thereafter on each issue or series of bonds outstanding. If no part of the principal of any such issue or series of bonds will become due and payable within such time, then such statement shall show the amount required to be raised by tax levy during such year for payment of interest becoming due during such time and to place the proper amount in the sinking fund for the payment of the principal of such bonds when they become due, as provided in 7-7-2265 .