1009.997 Conveyance of loan funding deposit to participating institutions. - Florida Statutes

1009.997 Conveyance of loan funding deposit to participating institutions.

When the principal of and interest on obligations of an authority issued to finance the cost of an education loan financing program, including any refunding obligations issued to refund and refinance such obligations, have been fully paid and retired or when adequate provision has been made to fully pay and retire the obligations and all other conditions of the bond resolution have been satisfied and the lien created by such bond resolution has been released in accordance with the provisions thereof, the authority shall promptly do such things and execute such deeds and conveyances as are necessary to convey any remaining moneys, properties, and other assets comprising loan funding deposits to the institutions in proportion to the amounts furnished by the respective institutions.

History. s. 502, ch. 2002-387.