9-43-117. Application of moneys received from collection of assessments.
63 words·~1 min read·
/sd/title-9/chapter-9-43/9-43-117A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
All moneys received from collections of assessments for any local improvement wholly or partially financed from the proceeds of general obligation bonds shall be applied toward payment of the assessment bonds issued on account thereof, including those held in the debt service fund for the general obligation bonds, in the same manner as if all such assessment bonds were held by third persons.