(a) It shall not be lawful for the board of commissioners of any suburban improvement district or any officer, member, or agent thereof to appropriate or use any money arising from the sale of any bonds authorized to be issued under this subchapter to any use or purpose whatever other than is specified and expressly directed.
(b) And any officer, member, or agent of the board of a district who shall violate any of the provisions of this subchapter as prescribed in this section shall be deemed guilty of a felony and, upon conviction shall be punished by imprisonment in the penitentiary for not less than one (1) year nor more than five (5) years.
Section: Previous 14-92-202 14-92-203 14-92-204 14-92-205 14-92-206 14-92-207 14-92-208 14-92-209 14-92-210 14-92-211 14-92-212 14-92-213 14-92-214 14-92-215 NextLast modified: November 15, 2016