(1) The authority shall establish the veterans housing bond redemption fund. All mortgages purchased with moneys from the veterans housing loan fund shall be the exclusive property of the bond redemption fund. All moneys received by the authority from the repayment of veterans housing loans shall be deposited into such fund to be used for the repayment of veterans housing bonds issued pursuant to s. 234.40. (2) Subject to agreements with bondholders, disbursements shall be made: (a) For the payment of the principal of and interest on bonds issued by the authority when the same become due whether at maturity or on call for redemption and for the payment of any redemption premium required to be paid where such bonds are redeemed prior to their stated maturities, and to purchase bonds; (b) To pay administrative costs, expenses and charges to service outstanding bonds including fees and expenses of trustees and paying agents; (c) For repayment of advances from the state made through s. 20.485 (3) (b), 2017 stats.; (d) For transfer to the veterans capital reserve fund; and (e) Any surplus remaining after satisfaction of all obligations of pars. (a) to (d) shall be paid over to the department of veterans affairs and deposited in the veterans trust fund.
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