Section 15-19-86 - Payment before maturity(a) On and after the second interest due date of any bonds so issued and annually thereafter, whenever sufficient funds are in the hands of the executive director, exceeding the next interest payment on the unpaid balance of any bonds so issued, the executive director shall call for payment, in accordance with the terms of such bond sale. Interest on the bonds so called for payment shall cease on the date of call, provided that all notice requirements have been satisfied. The monies provided for the payment of the bonds with the interest unpaid to the date of their call for payment shall be transferred from the assessment area assessment fund into the assessment area bond and interest redemption fund to which only the owners of the bonds shall thereafter look for payment.[Eff 9/17/84] (Auth: HRS §§ 206E-4, 206E-6) (Imp: HRS §§ 206E-4, 206E-6)