§ 40-24-18 — Special improvement moneys to be kept separate - Designation and numbering of funds - Diversion of moneys prohibited

numbering of funds - Diversion of moneys prohibited.
All special assessments and taxes levied and other revenues pledged under the provisions
of this title to pay the cost of an improvement shall constitute a fund for the payment of such
cost, including all principal of and interest on warrants and other obligations issued by the
municipality to finance the improvement, and shall be diverted to no other purpose. The city
auditor shall hold all moneys received for any such fund as a special fund to be applied to
payment for the improvement. Each such fund shall be designated by the name and number of
the improvement district in or for which said special assessments, taxes, and revenues are
collected. When all principal and interest on warrants and other obligations of the fund have
been fully paid, all moneys remaining in a fund may be transferred into the general fund of the
municipality.