63B-7-109 - Payment of interest, principal, and redemption premiums.
63B-7-109. Payment of interest, principal, and redemption premiums.
(1) The Division of Finance shall draw warrants on the state treasury before any interest,principal, or redemption premiums become due on the bonds.
(2) After receipt of the warrants, the state treasurer shall:
(a) promptly pay the warrants from funds within the sinking fund; and
(b) immediately transmit the amount paid to the paying agent for the bonds.
Enacted by Chapter 67, 1998 General Session