§ 47.26.407. Bonds -- Sums in excess of retirement requirements -- Use
Whenever the percentage of the motor vehicle fund arising from excise taxes on motor vehicle fuels payable into the bond retirement fund, shall prove more than is required for the payment of interest on bonds when due, or current retirement of bonds, any excess may, in the discretion of the state finance committee, be available for the prior redemption of any bonds or remain available in the fund to reduce the requirements upon the fuel excise tax portion of the motor vehicle fund at the next interest or bond payment period.
[1967 ex.s. c 83 § 43.]
Sections: Previous 47.26.400 47.26.401 47.26.402 47.26.403 47.26.404 47.26.405 47.26.406 47.26.407 47.26.420 47.26.421 47.26.422 47.26.423 47.26.424 47.26.425 47.26.4252 NextLast modified: April 7, 2009