6-8B-50. Disposition of accrued interest and premiums received on sale.
73 words·~1 min read·
/sd/title-6/chapter-6-8/6-8b-50·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any accrued interest and any premium appertaining to a sale of refunding bonds may be applied to the payment of the interest thereon, the principal thereof, or both interest and principal, or may be deposited in a reserve therefor, or may be used to defray incidental costs, or applied to the payment of the bonds being refunded, or deposited in an escrow, established pursuant to § 6-8B-46 , as the governing body determines.