35-426. Application of proceeds to redemption
of indebtedness; notice to redeem


A. The money received by the state treasurer shall be applied by him to the
redemption of the indebtedness for the redemption of which the bonds were issued, and the
treasurer shall give notice, in the same manner as for the payment and redemption of
state warrants, of his readiness to redeem such indebtedness, and thereafter interest on
all such indebtedness due and outstanding shall cease.


B. Before such indebtedness is paid, the director of the department of
administration shall endorse on each certificate the amount due thereon, and write across
the face of each the date of its surrender and the name of the person surrendering, and
shall keep a record thereof.