§ 61-35-83 — 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 chapter to pay the cost of an improvement constitute a fund for the payment of that cost,
including all principal of and interest on bonds and other obligations issued by the district to
finance the improvement, and may be diverted to no other purpose. The district treasurer shall
hold all moneys received for any such fund as a special fund to be applied to payment for the
improvement. Each fund must be designated by the name and number of the improvement
district in or for which the special assessments, taxes, and revenues are collected. When all
principal and interest on bonds 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 district.