California Government Code 50666.3 – So long as any bonds or interest thereon are unpaid following their …
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So long as any bonds or interest thereon are unpaid following their maturity, the revenues and interest thereon shall not be used for any other purpose.
(Added by Stats. 1985, Ch. 320, Sec. 2.)
Terms Used In California Government Code 50666.3
- Revenues: include the proceeds of ad valorem taxes on real property levied by, or allocated to, the local agency, and the proceeds of sales and use taxes. See California Government Code 50665.1