§39-12 - Payment, principal and interest.
§39-12 Payment, principal and
interest. When bonds issued pursuant to this part and the several interest
amounts mature, the director of finance shall pay the same. If the bonds or
interest are made payable elsewhere than at the office of the director of
finance, the director of finance shall make arrangements to provide sufficient
funds at the designated place or places of payment to meet and pay all
obligations at maturity in accordance with the terms thereof.
There is hereby appropriated out of the general
fund of the State all amounts necessary for the payment from time to time of
the principal of the bonds and the several interest amounts as they mature, and
this appropriation shall be a paramount appropriation upon the general fund of
the State. [L 1988, c 28, pt of §3]