§ 46-3-15 - Application of assessment proceeds.
SECTION 46-3-15
§ 46-3-15 Application of assessmentproceeds. – The proceeds of the assessments, whether or not pledged for the payment ofsecurities, shall be segregated from other funds of the municipality, and shallbe used only to pay for the construction of the erosion control system orparticular portion thereof in respect to which the assessments are made or, asthe case may be, for the payment of the interest on, or principal of, anysecurities issued to pay for the system or particular part thereof.