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2020 California Code
Streets and Highways Code - SHC
DIVISION 7 - THE IMPROVEMENT ACT OF 1911
PART 5 - IMPROVEMENT BONDS
CHAPTER 4.5 - Issuance of Bonds to Represent Unpaid Assessments Against Publicly Owned Property
Section 6468.4.
Universal Citation: CA St & Hwy Code § 6468.4 (2020)
6468.4.
The treasurer shall keep a separate redemption fund, properly designated, into which he shall place all sums received by him from the collection of the assessments against public property for bonds issued under the provisions of this chapter and for interest and penalties thereon and from which fund he shall disburse and pay the bonds and the interest due thereon upon presentation of the proper bonds and coupons. Under no circumstances shall the bonds or the interest thereon be paid out of any other fund.
(Added by Stats. 1969, Ch. 770.)
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