California § 8523. 8523. (Added by Stats. 1997, Ch. 878, Sec. 1.)

California Statutes

§ 8523. — 8523. (Added by Stats. 1997, Ch. 878, Sec. 1.)

California § 8523.

JurisdictionCalifornia

Code RTCRevenue and Taxation Code - RTC

Div. 2.DIVISION 2. OTHER TAXES

Part 2.PART 2. MOTOR VEHICLE FUEL TAX LAW

Ch. 12.CHAPTER 12. Metropolitan Transportation Commission

This text of California § 8523. (8523. (Added by Stats. 1997, Ch. 878, Sec. 1.)) 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. Revenue and Taxation Code - RTC Code § 8523. (2026).

Text

All accrued interest and premiums received on the sale of the bonds shall be placed in the fund to be used for the payment of the principal of, and interest on, the bonds, and the remainder of the proceeds of the bonds shall be placed in the treasury of the commission and applied to secure the bonds or for the purposes for which the debt was incurred. However, when the purposes have been accomplished, any money remaining shall be either (a) transferred to the fund to be used for the payment of principal of, and interest on, the bonds or (b) placed in a fund to be
					 used for the purchase of the outstanding bonds in the open market at prices and in the manner, either at public or private sale or otherwise, as determined by the commission. Bonds so purchased shall be canceled immediately.

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All accrued interest and premiums received on the sale of the bonds shall be placed in the fund to be used for the payment of the principal of, and interest on, the bonds, and the remainder of the proceeds of the bonds shall be placed in the treasury of the commission and applied to secure the bonds or for the purposes for which the debt was incurred. However, when the purposes have been accomplished, any money remaining shall be either (a) transferred to the fund to be used for the payment of principal of, and interest on, the bonds or (b) placed in a fund to be
used for the purchase of the outstanding bonds in the open market at prices and in the manner, either at public or private sale or otherwise, as determined by the commission. Bonds so purchased shall be canceled immediately.

Legislative History

Added by Stats. 1997, Ch. 878, Sec. 1. Effective January 1, 1998.

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California § 8523., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/RTC/8523..