7-21-40 Proceeds of certificates of indebtedness--Use to pay outstanding warrants, claims and liab...
Proceeds of certificates of indebtedness--Use to pay outstanding warrants, claims
The moneys so borrowed for each of such funds shall be deposited to the credit
thereof and shall be used for the purpose of paying and redeeming the outstanding warrants drawn
against such funds, and the claims and liabilities created, during such fiscal year, together with the
interest thereon, and it shall be the duty of the treasurer immediately upon receiving the money so
borrowed to deposit the same to the credit of the proper funds and to call in for payment such
warrants, claims, and liabilities or so much thereof as such money will pay.