6-8B-50. Disposition of accrued interest and premiums received on sale.
Any accrued interest and any premium appertaining to a sale of refunding bonds may be applied to the payment of the interest thereon, the principal thereof, or both interest and principal, or may be deposited in a reserve therefor, or may be used to defray incidental costs, or applied to the payment of the bonds being refunded, or deposited in an escrow, established pursuant to §6-8B-46, as the governing body determines.
Source: SL 1974, ch 54, §10; SDCL Supp, §6-8A-28; SL 1984, ch 43, §48.