§ 18-31. Moneys realized from local assessments for public improvements to defray obligations incurred.

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All moneys realized from assessments made for or on account of any local improvement or from sales of property for nonpayment thereof, shall be used for defraying the cost of such improvement and the payment of notes or bonds issued on account thereof, or certificates of indebtedness or other obligations issued on account thereof prior to the effective date of the Local Finance Law.

(N.Y. Laws 1905, Ch. 684, § 28; N.Y. Laws 1911, Ch. 71, § 2; L.L. No. 1-1929, § 2; N.Y. Laws 1943, Ch. 710, Pt. 3, § 953; N.Y. Laws 1945, Ch. 839, § 66)

                    
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