7-27-31. Severance tax income bond retirement fund created.
73 words·~1 min read·
/nm/chapter-7-taxation/article-27-severance-tax-bonding-act/7-27-31·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
There is created the "severance tax income bond retirement fund." Transfers from the severance tax income fund shall be made monthly to the severance tax income bond retirement fund in an amount sufficient, when added to the balance in the fund, to meet all principal and interest payments on bonds payable from the severance tax income bond retirement fund during the next twelve months.
History: Laws 1981 (1st S.S.), ch. 9, § 4.