Exclusive Use

4 CMC § 10505 — under Irrevocable Trust Fund.

4 CMC § 10505

TITLE 4: ECONOMIC RESOURCES

DIVISION 10: COMMONWEALTH DEVELOPMENT AUTHORITY

§ 10505. Exclusive Use. Covenant funds in the parity lot subaccounts of the trust account, or interest earned therefrom, may only be used to pay or provide for the payment of principal, premium and interest on bonds the proceeds of which are required by the indenture of trust to be expended respecting CIP projects in accordance to 4 CMC § 10502. Source: PL 5-37, § 3 (§ 10505).