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184.210 Application of money from installment payments, interest and penalties.

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184.210 Application of money from installment payments, interest and penalties. It shall be the duty of the district treasurer promptly to apply all moneys paid in on <br>installments of principal or interest and on penalties to the payment of the bonds and <br>coupons or apportionment warrants issued hereunder. If the fund accumulated from the <br>collection of assessments, interest and penalties be more than sufficient to pay all <br>principal and interest due, said treasurer shall refund to each person paying an assessment <br>for the project a proportionate amount of the excess. Failure on the part of the district to <br>collect any payment when due shall create no liability against the district and shall create <br>no liability against the members of the board of directors, except for gross negligence or <br>malfeasance in office. History: Created 1942 Ky. Acts ch. 65, sec. 21.