California Water Code 25262 – Until the payment or retirement of the bonds for the benefit of which …
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Until the payment or retirement of the bonds for the benefit of which an allocation was made, the revenue allocated shall be applied solely to the payment of the obligation specified in the allocating resolution.
(Added by Stats. 1943, Ch. 372.)
Terms Used In California Water Code 25262
- bonds: includes both construction and refunding bonds except as otherwise expressly provided. See California Water Code 25200
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.