§48E-13 - Use of receipts derived from project agreement.
§48E-13 Use of receipts derived fromproject agreement. Any county issuing special purpose revenue bondspursuant to this chapter for a pollution control project shall have the rightto appropriate, apply, or expend the receipts derived from the projectagreement entered into with respect thereto for the following purposes:
(1) To pay when due all special purpose revenue bondsand interest thereon, for the payment of which the receipts are or have beenpledged, charged, or otherwise encumbered, including reserves therefor; and
(2) To the extent not paid by the project party toprovide for all expenses of administration, operation, and maintenance of thepollution control project, including reserves therefor.
Unless and until adequate provision has been madefor the foregoing purposes, no county shall transfer receipts derived from theproject agreement to its general fund. [L 1983, c 237, pt of §2]