California § 13172. 13172. (Added by Stats. 1957, Ch. 2237.)

California Statutes

§ 13172. — 13172. (Added by Stats. 1957, Ch. 2237.)

California·Code PUC Public Utilities Code - PUC·Div. 6. DIVISION 6. MUNICIPAL UTILITY DISTRICT ACT·Ch. 6.5. CHAPTER 6.5. Electric System Improvements·Art. 11. ARTICLE 11. Proceeds

All sums received as principal and premiums on the sale of any issue of bonds shall be applied to the purposes for which such bonds were issued. The board may provide in the resolution authorizing the issue of any bonds under this chapter that any portion of the proceeds of sale of the bonds may be applied to payment of interest during construction for a period of not to exceed three years from and after the date of such bonds.

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All sums received as principal and premiums on the sale of any issue of bonds shall be applied to the purposes for which such bonds were issued. The board may provide in the resolution authorizing the issue of any bonds under this chapter that any portion of the proceeds of sale of the bonds may be applied to payment of interest during construction for a period of not to exceed three years from and after the date of such bonds.

California § 13172. (13172. (Added by Stats. 1957, Ch. 2237.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Added by Stats. 1957, Ch. 2237.

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