§ 99351. — 99351. (Added by Stats. 1971, Ch. 1400.)

California § 99351.

• Jurisdiction: California
• Code PUC: Public Utilities Code - PUC
• Div. 10.: DIVISION 10. TRANSIT DISTRICTS
• Part 11.: PART 11. PROVISIONS APPLICABLE TO ALL PUBLIC TRANSIT
• Ch. 4.: CHAPTER 4. Transportation Development
• Art. 7.: ARTICLE 7. Limited Obligation Bonds

Text

After making allowances for contingencies and error in the estimates, the taxes, for the respective purposes hereinafter set forth, shall be at least sufficient to pay the following amounts in the order set forth:
(a)
The interest on and principal of the bonds as they become due and payable.
(b)
All payments required for compliance with the resolution authorizing the issuance of the bonds or any other contract with the bondholders, including the creation of sinking and reserve funds.
(c)
All payments to meet any other obligations of the county which are charges, liens, or encumbrances upon the revenues.

Legislative History

Added by Stats. 1971, Ch. 1400.