Sec. 1471.028. USE OF SURPLUS SINKING FUND. An amount remaining in the sinking fund after the principal of and interest on the bonds are fully paid may be used by a political subdivision: (1) for the construction, maintenance, and operation of macadamized, graveled, or paved roads or turnpikes; (2) to aid a purpose described by Subdivision (1); or (3) for a permanent improvement authorized by law as determined by the officials of the political subdivision.
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