Public Finance

CHAPTER 35-8.1
Refunding Bond Authority

SECTION 35-8.1-25

§ 35-8.1-25. Transfer of authority's funds and property upon dissolution.

If the authority shall be dissolved, all funds of the authority, not required for the payment of bonds or other debts of the authority, the disposition of which is not otherwise governed by contracts to which the authority may be party, shall be paid to the general treasurer for the use of the state, and, except as provided in this chapter, all property belonging to the authority shall be vested in the state and delivered to it.

History of Section.
(P.L. 1987, ch. 12, § 1.)