§ 37-41-99. Payment of principal and interest on notes and bonds.
The principal of and interest upon all notes or bonds issued under the authority of Section 37-41-89 shall be paid out of such transportation funds of the school district as may be available for such purpose. It shall be the duty of the school board to set aside each year out of such transportation funds a sufficient amount to pay the principal of and interest upon said notes or bonds as and when the same shall respectively mature and accrue. It shall be the duty of the superintendent of schools to include in the school budget each year separate items showing the amount required for the payment of the principal of and the interest upon all notes or bonds issued under the authority of said section.
Sources: Codes, 1942, § 6367-10; Laws, 1953, Ex Sess, ch. 18, § 10; Laws, 1982, ch. 354, § 28; Laws, 1986, ch. 492, § 155; Laws, 1987, ch. 307, § 22; Laws, 2004, ch. 357, § 13, eff from and after July 1, 2004.
§ 37-41-99. Payment of principal and interest on notes and bonds.
The principal of and interest upon all notes or bonds issued under the authority of Section 37-41-89 shall be paid out of such transportation funds of the school district as may be available for such purpose. It shall be the duty of the school board to set aside each year out of such transportation funds a sufficient amount to pay the principal of and interest upon said notes or bonds as and when the same shall respectively mature and accrue. It shall be the duty of the superintendent of schools to include in the school budget each year separate items showing the amount required for the payment of the principal of and the interest upon all notes or bonds issued under the authority of said section.
Sources: Codes, 1942, § 6367-10; Laws, 1953, Ex Sess, ch. 18, § 10; Laws, 1982, ch. 354, § 28; Laws, 1986, ch. 492, § 155; Laws, 1987, ch. 307, § 22; Laws, 2004, ch. 357, § 13, eff from and after July 1, 2004.
§ 37-41-99. Payment of principal and interest on notes and bonds.
The principal of and interest upon all notes or bonds issued under the authority of Section 37-41-89 shall be paid out of such transportation funds of the school district as may be available for such purpose. It shall be the duty of the school board to set aside each year out of such transportation funds a sufficient amount to pay the principal of and interest upon said notes or bonds as and when the same shall respectively mature and accrue. It shall be the duty of the superintendent of schools to include in the school budget each year separate items showing the amount required for the payment of the principal of and the interest upon all notes or bonds issued under the authority of said section.
Sources: Codes, 1942, § 6367-10; Laws, 1953, Ex Sess, ch. 18, § 10; Laws, 1982, ch. 354, § 28; Laws, 1986, ch. 492, § 155; Laws, 1987, ch. 307, § 22; Laws, 2004, ch. 357, § 13, eff from and after July 1, 2004.
