§ 24-12-40.E - State guaranteed bonds – General provision.
SECTION 24-12-40.E
§ 24-12-40.E State guaranteed bonds –General provision. – All payments made by the authority to the general fund for amounts loaned tothe authority for payments on bond interest paid on state guaranteed bonds,shall, if requested in writing by the director of administration, be depositedby the state controller to a restricted receipt account. The moneys andinterest or income earned from their investment shall be used for the paymentof debt service cost (principal and interest) for state general obligationbonds.