Section 9-660 - Disposition of proceeds of benefit assessments.
§ 9-660. Disposition of proceeds of benefit assessments.
(a) "District account" defined.- In this section, "district account" means the account maintained by a sanitary commission in accordance with this section.
(b) Credit to district account.- A sanitary commission shall:
(1) Maintain a district account; and
(2) Credit to the district account all proceeds from the benefit assessments levied under this subtitle.
(c) Payment of bond principal and interest.- The sanitary commission shall use funds in the district account to pay the principal and interest on the bonds for which the benefit assessment was levied.
[An. Code 1943, art. 43, § 662; 1982, ch. 240, § 2; 2006, ch. 44, § 6.]