There is a newer version
of
this Section
2019 California Code
Streets and Highways Code - SHC
DIVISION 16 - HIGHWAY DISTRICTS
PART 3 - BRIDGE AND HIGHWAY DISTRICTS
CHAPTER 13 - Issuance of District Bonds and Disposition of Surplus Proceeds
Section 27248.
Universal Citation: CA St & Hwy Code § 27248 (2019)
27248.
The money in the reserve interest fund shall be deposited in the same manner as other funds of the district or invested in securities which are legal investments for public funds, and the fund shall be used solely for the payment of interest on such bonds whenever there shall be a deficit in the revenues of the works and only to the extent of such deficit.
(Added by Stats. 1943, Ch. 286.)
Disclaimer: These codes may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
