22.1-161.4 - Disposition of proceeds from sale of bonds; separate fund.
§ 22.1-161.4. Disposition of proceeds from sale of bonds; separate fund.
All proceeds received from the sale of the bonds issued under the provisionsof this chapter shall be paid to the treasurer or chief financial officer ofthe county, city or town, who shall promptly deposit such funds in a bank orbanks as prescribed by general law. He shall account for such money through afund, separate from all other funds, in the system of accounting.
(1995, c. 250.)