11-42-603. Sources of payment for interim warrants and bond anticipation notes.
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11-42-603. Sources of payment for interim warrants and bond anticipation notes.
Each local entity that has issued interim warrants or bond anticipation notes shall pay the warrants or notes from:
(1)proceeds from the sale of assessment bonds;
(2)cash the local entity receives from the payment for improvements;
(3)assessments;
(4)improvement revenues that are not pledged to the payment of assessment bonds;
(5)proceeds from the sale of interim warrants or bond anticipation notes; or
(6)the local entity's guaranty fund or, if applicable, the reserve fund.
Amended by Chapter 246 , 2009 General Session