California § 1003.8. 1003.8. (Added by Stats. 1970, Ch. 1488.)

California Statutes

§ 1003.8. — 1003.8. (Added by Stats. 1970, Ch. 1488.)

California § 1003.8.

JurisdictionCalifornia

Code MVCMilitary and Veterans Code - MVC

Div. 4.DIVISION 4. VETERANS' AID AND WELFARE

Ch. 7.CHAPTER 7. Veterans’ Revenue Debenture Act of 1970

Art. 4.ARTICLE 4. Appropriation, Security, Sale, and Funds

This text of California § 1003.8. (1003.8. (Added by Stats. 1970, Ch. 1488.)) 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. Military and Veterans Code - MVC Code § 1003.8. (2026).

Text

All debenture redemption and interest payments and any premium payable upon debentures called for redemption, and all payments required for reserve funds, sinking funds and all other funds created as further security for the debentures constitute a first, direct, and exclusive charge and lien on all revenues of the pledged contracts and the interest or other income derived therefrom. Such revenues, together with any interest or other income earned thereon, and such funds and the interest and income earned thereon, constitute a trust fund for the security and payment of the debentures and shall not be used or pledged for any other purpose or transferred to any other fund as long as any such debentures are outstanding and unpaid.

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All debenture redemption and interest payments and any premium payable upon debentures called for redemption, and all payments required for reserve funds, sinking funds and all other funds created as further security for the debentures constitute a first, direct, and exclusive charge and lien on all revenues of the pledged contracts and the interest or other income derived therefrom. Such revenues, together with any interest or other income earned thereon, and such funds and the interest and income earned thereon, constitute a trust fund for the security and payment of the debentures and shall not be used or pledged for any other purpose or transferred to any other fund as long as any such debentures are outstanding and unpaid.