(a) In the event any county or municipality acquires surplus federal properties and subsequently sells or leases them, the proceeds from the sale or leasing shall first be applied to the payment of the debt created by the acquisition of the property, if any, in accordance with the terms of the mortgage or bond indebtedness.
(b) After payment of this indebtedness, any surplus shall be placed in the county or municipal general revenue fund.
Section: Previous 14-169-1002 14-169-1003 14-169-1004 14-169-1005 14-169-1006 14-169-1007 14-169-1008 14-169-1009 14-169-1010 14-169-1011 NextLast modified: November 15, 2016