Notes not paid in full within term

If a note authorized by §§ 7-21-16.2 to 7-21-16.5 , inclusive, has been issued and not paid in full within the term provided in § 7-21-16.2 , no cash receipts may be expended for any purpose except the retirement of principal and interest of notes outstanding against that fund, until all such notes are retired. Source: SL 2012, ch 53 , § 5.