Money or Investments Held for Payment of Bonds or Notes; Application

  1. Law
  2. Indiana Code
  3. State and Local Administration
  4. Local Public Improvement Bond Banks
  5. Other Funds and Accounts
  6. Money or Investments Held for Payment of Bonds or Notes; Application

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Sec. 3. Unless the resolution or trust agreement authorizing the bonds or notes provides otherwise, money or investments in a fund or account of the bank established or held for the payment of bonds or notes shall be applied to the payment or retirement of the bonds or notes, and to no other purpose.

As added by P.L.42-1985, SEC.1.


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