7-6-2327. Use of bond proceeds and borrowed money. (1) Money received from borrowing shall be used for no other purpose than that for which borrowed, except that if any surplus remains after the accomplishment of the purpose for which borrowed, it shall be used to redeem the county debt.
     (2) Where any budget shall contain an expenditure program to be financed from a bond issue to be authorized thereafter, no expenditure shall be made or obligation incurred thereunder until such bonds have been duly authorized and the proceeds are available.

     History: En. Sec. 5, Ch. 148, L. 1929; re-en. Sec. 4613.5, R.C.M. 1935; R.C.M. 1947, 16-1906(part).