63B-7-110 - Investment of sinking fund money.
63B-7-110. Investment of sinking fund money.
(1) The state treasurer may, by following the procedures and requirements of Title 51,Chapter 7, State Money Management Act, invest any money contained in the sinking fund until itis needed for the purposes for which the fund is created.
(2) Unless otherwise provided in the resolution of the commission authorizing theissuance of bonds under this chapter, the treasurer shall retain all income from the investment ofany money contained in the sinking fund in the sinking fund and use it for the payment of debtservice on the bonds.
Enacted by Chapter 67, 1998 General Session