2020 California Code
Streets and Highways Code - SHC
DIVISION 18 - PARKING
PART 2 - PARKING LAW OF 1949
CHAPTER 5 - Revenue Bonds
Section 33105.5.
Nothing in this part nor in the specification, in the proceedings for the issuance of any bonds, of the sources of payment thereof, shall preclude any of the following:
(a) The payment of interest on or principal of any such bonds out of sums received as premiums or accrued interest on the sale thereof.
(b) The payment of principal of or interest on, or premiums on the redemption of, any such bonds out of the proceeds of the sale of refunding bonds issued for that purpose.
(c) The payment of any interest on any such bonds accruing during, and for not to exceed two years after, the period of the construction of a project on account of which they were issued, or for any other reasonably limited period, out of the proceeds of the sale of such bonds.
(d) The payment of any principal of, interest on, or premiums on the redemption of, any such bonds by the purchasers thereof, or by any entity other than the authority issuing the same in any case where such purchasers or entity may have guaranteed such payment.
(e) The application to the payment of any principal of, interest on, or premiums on the redemption of, any such bonds of any funds which the authority may lawfully so apply.
(Added by Stats. 1951, Ch. 1388.)
