TITLE 50

MUNICIPAL CORPORATIONS

CHAPTER 17

LOCAL IMPROVEMENT DISTRICT CODE — GUARANTEE FUND

50-1768.  Bonds payable from fund. Whenever a municipality has created a "Local Improvement Guarantee Fund," under the provisions of [this act,] any local improvement district bonds issued thereafter shall provide that the principal sum of such funds [bonds] and the interest thereon shall be payable out of the local improvement fund created for the payment of cost and expenses of the improvement or out of any "Local Improvement Guarantee Fund," duly authorized and created, and not otherwise.

History:

[50-1768, added 1967, ch. 429, sec. 353, p. 1249.]