Creation of sinking fund.

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  • (1) There is created a sinking fund, to be administered by the state treasurer, entitled the "2001 Highway General Obligation Bonds Sinking Fund."
  • (2) All money deposited in the sinking fund, from whatever source, shall be used to pay debt service on the bonds.
  • (3) The proceeds of all taxes levied under this chapter are appropriated to this fund.
  • (4) The state treasurer may create separate accounts within the sinking fund for each series of bonds issued.




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