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2006 Utah Code - 19-9-110 — Application of proceeds from sale of obligations.

     19-9-110.   Application of proceeds from sale of obligations.
     Proceeds from the sale of obligations shall be applied solely to the purposes for which they were issued. Accrued interest and premiums received upon such sale and any proceeds not needed for the purposes for which the obligations were issued, however, shall be applied to payment of principal or interest on such obligations.

Renumbered and Amended by Chapter 184, 2003 General Session

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