California § 17199.5. 17199.5. (Amended by Stats. 2023, Ch. 48, Sec. 14.)

California Statutes

§ 17199.5. — 17199.5. (Amended by Stats. 2023, Ch. 48, Sec. 14.)

California § 17199.5.

JurisdictionCalifornia

Code EDCEducation Code - EDC

Div.1.

Title 1.DIVISION 1. GENERAL EDUCATION CODE PROVISIONS

Part 10.PART 10. SCHOOL BONDS

Ch. 18.CHAPTER 18. California School Finance Authority

This text of California § 17199.5. (17199.5. (Amended by Stats. 2023, Ch. 48, Sec. 14.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Education Code - EDC Code § 17199.5. (2026).

Text

Notwithstanding Section 17199.4, if the bonds were subject to a credit enhancement agreement provided by a public credit provider pursuant to Section 17193.5 for which a payment for principal or interest, or both, has been made by the public credit provider, the Controller, or the county treasurer or other appropriate county fiscal officer, as applicable, shall allocate to the public credit provider, rather than the trustee, the percentage of the apportionment to be made pursuant to this paragraph equal to the percentage of the outstanding indebtedness that is subject to the credit enhancement agreement.

Free access — add to your briefcase to read the full text and ask questions with AI

Notwithstanding Section 17199.4, if the bonds were subject to a credit enhancement agreement provided by a public credit provider pursuant to Section 17193.5 for which a payment for principal or interest, or both, has been made by the public credit provider, the Controller, or the county treasurer or other appropriate county fiscal officer, as applicable, shall allocate to the public credit provider, rather than the trustee, the percentage of the apportionment to be made pursuant to this paragraph equal to the percentage of the outstanding indebtedness that is subject to the credit enhancement agreement.