18-2606. Funds; use by municipality.
Money received by a municipality or credited to its account from the fund shall be used for one of the following purposes:
(1) To pay for the construction, acquisition, or equipping of infrastructure projects or portions thereof; or
(2) To pay principal, interest, premium, and costs of issuance on bonds issued by the municipality to finance the construction, acquisition, or equipping of infrastructure projects or portions thereof.
Source
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