(a) Any funds remaining with the corporation in excess of the amount necessary to finance a project, including the cost of lands, buildings, and facilities and other expenses necessary to its completion, shall be used by the corporation to reduce the amount of its first lien obligations.
(b) For this purpose, the corporation shall call its first lien obligations for payment in inverse numerical order not later than the next interest payment date after completion of the project.
Section: Previous 15-4-510 15-4-511 15-4-512 15-4-513 15-4-514 15-4-515 15-4-517 15-4-518 15-4-520 15-4-521 15-4-522 15-4-523 15-4-524 15-4-525 NextLast modified: November 15, 2016