§ 100750 Higher Education Bond Interest Transfers

• •Money from bond premiums and accrued interest must stay in the specific education bond fund.
• •The fund can move that money to the General Fund as a credit.
• •The credit is used to offset the cost of paying interest on the bonds.

The state sells bonds to build a new college building and gets extra cash from the bond premium and the interest that builds up before the money is used.

That extra cash has to stay in the Higher Education Capital Outlay Bond Fund, but the state can later transfer it to the General Fund to lower the amount it has to spend on bond interest.