Disposition of unpledged revenues.

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All revenues derived by the commission from the operation of any revenue-producing facility which may not be required to discharge covenants made by it in issuing bonds, notes or other obligations authorized by Section 55-11-150, shall be held, disposed of or expended by the commission for purposes germane to the functions of the district.

HISTORY: 1962 Code Section 2-320; 1959 (51) 101; 2012 Act No. 270, Section 5, eff June 18, 2012.

Effect of Amendment

The 2012 amendment made nonsubstantive changes.


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