§ 53364. — 53364. (Repealed and added by Stats. 1984, Ch. 269, Sec. 40.)

California § 53364.

• Jurisdiction: California
• Code GOV: Government Code - GOV
• Div.: 2.
• Title 5.: DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES
• Part 1.: PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES
• Ch. 2.5.: CHAPTER 2.5. The Mello-Roos Community Facilities Act of 1982
• Art. 5.: ARTICLE 5. Bonds

Text

Following the issuance of any refunding bonds pursuant to this article, the treasurer of the local agency shall provide for the payment of principal and interest on the refunding bonds in the same manner as for the bonds being refunded. Payments on the refunding bonds may be made from the “refunding fund” or from the redemption fund established for the bonds being refunded. However, the bonds being refunded shall have a priority claim on funds in the redemption fund.

Legislative History

Repealed and added by Stats. 1984, Ch. 269, Sec. 40. Effective July 3, 1984.