15-2084. School improvement revenue bond debt
service fund
A. The school facilities board shall establish a school improvement revenue bond
debt service fund consisting of monies received by the school facilities board pursuant
to section 42-5029, subsection E and section 37-521, subsection B, paragraph 1. All
monies received pursuant to section 42-5029, subsection E shall be accounted for
separately and shall be used only for debt service of school improvement revenue bonds.
All monies received pursuant to section 37-521, subsection B, paragraph 1 shall be
accounted for separately and shall be used only for debt service of qualified zone
academy bonds.
B. Monies in the school improvement revenue bond debt service fund may be used only
for the purposes authorized by this article.
C. The state treasurer or bond trustee shall administer and account for the school
improvement revenue bond debt service fund.
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