Sources of payment for interim warrants and bond anticipation notes.

11-42-603. Sources of payment for interim warrants and bond anticipation notes.

Each local entity that has issued interim warrants or bond anticipation notes shall pay the warrants or notes from:

(1) proceeds from the sale of assessment bonds;

(2) cash the local entity receives from the payment for improvements;

(3) assessments;

(4) improvement revenues that are not pledged to the payment of assessment bonds;

(5) proceeds from the sale of interim warrants or bond anticipation notes; or

(6) the local entity's guaranty fund or, if applicable, the reserve fund.