90-3-1004. Coal producer's license tax bond special revenue account -- pledge. There is a coal producer's license tax bond account in the state special revenue fund. Money must be deposited in the account as provided in 15-34-115. Money in the account is pledged to the payment of principal and interest on all coal severance tax bonds and on all coal severance tax school bond contingency loan bonds issued pursuant to Title 17, chapter 5, part 7. Money in the account that is not needed for the annual payment of debt service on outstanding bonds must be allocated as provided in 15-34-115.

     History: En. Sec. 17, Ch. 563, L. 1999.