2019 California Code
Streets and Highways Code - SHC
DIVISION 12 - THE MUNICIPAL IMPROVEMENT ACT OF 1913
CHAPTER 8 - Deferral of Assessments
Alternatively, the city may create a deferral fund for the assessment district, and deposit into the deferral fund an amount sufficient to pay the asessments being deferred for a specified period of time. Funds in the deferral fund may be invested as other city funds are invested, or in more restricted ways as determined by the legislative body. Any investment of the funds in the deferral fund shall comply with federal arbitrage rules.
(Added by Stats. 1984, Ch. 1298, Sec. 29.)