§ 7-13-3034

7-13-3034. Authorization for reserve fund. The governing body may, in order to secure prompt payment of any district bonds issued in payment of the cost of improvements for the district and the interest on the bonds as it becomes due, create, establish, and maintain by resolution a fund, to be designated as the 'reserve fund', for each issue of bonds. History: En. Sec. 28, Ch. 282, L. 1991.