15-2107. Payment of impact aid revenue bonds; use of surplus monies
A. The impact aid revenue bonds shall be paid solely from monies distributed to the school district from impact aid revenues and other monies that are authorized by this article and that are credited to the school district' s impact aid revenue bond debt service fund.
B. The county treasurer or the paying agent for the impact aid revenue bonds shall cancel all impact aid revenue bonds when paid. Any surplus monies remaining in the impact aid revenue bond debt service fund shall be transferred back to the school district's capital outlay fund.
C. If a balance remains in the school district's impact aid revenue bond building fund after the acquisition or construction of facilities for which the bonds were issued is completed and the payment of other related costs, the balance remaining in the impact aid revenue bond building fund shall be transferred to the school district's capital outlay fund.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
