19-4-20. Disposition of proceeds.
105 words·~1 min read·
/nm/chapter-19-public-lands/article-4-townsites/19-4-20·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The proceeds received from the sale shall be disposed of as follows:
A. first, to pay the expenses of the sale;
B. second, to discharge any outstanding claims incurred in entering the townsite of the town; and
C. third, the surplus, if any, shall be retained by the town trustees to be used for making improvements within the townsite for public purposes.
History: Laws 1882, ch. 70, § 14; C.L. 1884, § 2788; Laws 1891, ch. 29, § 1; C.L. 1897, § 3991; Code 1915, § 5532; C.S. 1929, § 144-120; 1941 Comp., § 8-520; 1953 Comp., § 7-5-20; Laws 1967, ch. 279, § 1.