§39-12 Payment, principal and interest. When bonds issued pursuant to this part and the several interest amounts mature, the director of finance shall pay the same. If the bonds or interest are made payable elsewhere than at the office of the director of finance, the director of finance shall make arrangements to provide sufficient funds at the designated place or places of payment to meet and pay all obligations at maturity in accordance with the terms thereof.
There is hereby appropriated out of the general fund of the State all amounts necessary for the payment from time to time of the principal of the bonds and the several interest amounts as they mature, and this appropriation shall be a paramount appropriation upon the general fund of the State. [L 1988, c 28, pt of §3]Section: Previous 39-5 39-6 39-7 39-8 39-9 39-10 39-11 39-12 39-13 39-14 39-15 39-16 39-17 39-18 39-19 Next
Last modified: October 27, 2016