Section 15-6-413 - Assessments; Fund Created; Use

15-6-413. Assessments; fund created; use. All monies collected by the treasurer upon any assessments under this chapter shall be kept as a separate fund to be known as 'local improvement fund, district no. ....,' or by any other appropriate designation approved by the governing body. The fund shall be used for the retirement of any obligation or debt created in the construction of the improvement.