§ 87.22.270. Excess in bond fund -- Apportionment
When the money in the refunding bond fund reaches an excess of ten percent of the amount necessary to meet the total aggregate minimum annual installment of the principal of said bonds and interest next payable, it shall be the duty of said treasurer to apportion said excess to the several bondholders on a pro rata basis in proportion to the par value of their respective bonds and include the same with the payments of the next annual installment of the principal of said bonds.
[1929 c 120 § 36; RRS § 7530-36.]
Sections: Previous 87.22.175 87.22.190 87.22.200 87.22.210 87.22.215 87.22.230 87.22.240 87.22.245 87.22.250 87.22.260 87.22.270 87.22.275 87.22.280 87.22.900 87.22.910 NextLast modified: April 7, 2009