There is a newer version
of
this Section
2022 California Code
Streets and Highways Code - SHC
DIVISION 12 - THE MUNICIPAL IMPROVEMENT ACT OF 1913
CHAPTER 8 - Deferral of Assessments
Section 10705.
Universal Citation: CA St & Hwy Code § 10705 (2022)
10705. A city may increase the principal amount of bonds issued under this division by an amount sufficient to fund a program pursuant to this chapter. The proceeds of bonds issued for this purpose shall be placed in the deferral fund created pursuant to Section 10704, and may be used for no other purpose than financing deferrals. The proceeds may be invested in interest-bearing securities of the federal government with maturities occurring on or before the maturity of the bonds issued pursuant to this section. Any investment of those bond proceeds shall comply with federal arbitrage rules (26 U.S.C. Sec. 103 and the rules adopted pursuant thereto).
(Added by Stats. 1984, Ch. 1298, Sec. 29.)
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.
