15-2107. Payment of impact aid revenue bonds; use of surplus monies
A. The impact aid revenue bonds shall be paid solely from monies distributed to the school district from impact aid revenues and other monies that are authorized by this article and that are credited to the school district' s impact aid revenue bond debt service fund.
B. The county treasurer or the paying agent for the impact aid revenue bonds shall cancel all impact aid revenue bonds when paid. Any surplus monies remaining in the impact aid revenue bond debt service fund shall be transferred back to the school district's capital outlay fund.
C. If a balance remains in the school district's impact aid revenue bond building fund after the acquisition or construction of facilities for which the bonds were issued is completed and the payment of other related costs, the balance remaining in the impact aid revenue bond building fund shall be transferred to the school district's capital outlay fund.
Section: Previous 15-2095 15-2101 15-2102 15-2103 15-2104 15-2105 15-2106 15-2107 15-2108 15-2109 15-2110 15-2111 15-2112 15-2113 15-2114 NextLast modified: October 13, 2016