When a law authorizing a severance tax bond issue or supplemental severance tax bond issue contemplates the income of money for the retirement of the bond issue other than or in addition to the money in the severance tax bonding fund, then the money derived from such income shall be paid to the state treasurer and be credited to the specific bond issue account and deposited in the severance tax bonding fund.
History: 1953 Comp., § 72-18-32, enacted by Laws 1961, ch. 5, § 5; 1999 (1st S.S.), ch. 6, § 2.
Cross references. — For laws authorizing severance tax bond issues, see appendix to this article.
The 1999 amendment, effective July 1, 1999, inserted "or supplemental severance tax bond issue" and substituted "state treasurer" for "state board of finance".
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