9-25-16. Cash receipts applied to payment of notes until retired.
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/sd/title-9/chapter-9-25/9-25-16A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If a note authorized by § 9-25-12 has been issued and not paid in full within the term provided in § 9-25-12 , then thereafter no cash receipts may be expended for any purpose except the retirement of principal and interest of notes outstanding against that fund, until all such notes are retired.