5-534. State lottery revenue bond debt service
fund
A. The state lottery revenue bond debt service fund is established. The fund shall
consist of monies transferred pursuant to law. The department shall administer and
account for the state lottery revenue bond debt service fund.
B. If the director issues state lottery revenue bonds:
1. Amounts distributable to the state general fund from the state lottery fund
pursuant to section 5-522 shall be transferred first to the state lottery bond debt
service fund until the state lottery bond debt service fund contains monies sufficient to
meet all requirements for the current period as required by the bond documents and, after
the requirements for the current period as required by the bond documents have been
satisfied, shall be transferred to the state general fund.
2. After payment of the state lottery operating expenses, amounts distributable
from the state lottery fund pursuant to section 5-572 shall be transferred first to the
state lottery bond debt service fund until the state lottery bond debt service fund
contains monies sufficient to meet all requirements for the current period as required by
the bond documents and, after the requirements for the current period as required by the
bond documents have been satisfied, shall be transferred in accordance with section
5-572.
C. Monies in the state lottery revenue bond debt service fund may be used only for
the purposes authorized by this article.
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