California § 2107.4. 2107.4. (Amended by Stats. 1980, Ch. 777, Sec. 82.)

California Statutes

§ 2107.4. — 2107.4. (Amended by Stats. 1980, Ch. 777, Sec. 82.)

California·Code SHC Streets and Highways Code - SHC·Div. 3. DIVISION 3. APPORTIONMENT AND EXPENDITURE OF HIGHWAY FUNDS·Ch. 3. CHAPTER 3. Highway Users Tax Account

Not more than one-quarter of the funds allocated to a city or county from the Highway Users Tax Account in the Transportation Tax Fund for the construction of streets therein may be used to make principal and interest payments on bonds issued for such construction, if the issuance of such bonds is authorized by a proposition approved by a majority of the votes cast thereon. The term of any such bonds shall not exceed 25 years.

Free access — add to your briefcase to read the full text and ask questions with AI

Not more than one-quarter of the funds allocated to a city or county from the Highway Users Tax Account in the Transportation Tax Fund for the construction of streets therein may be used to make principal and interest payments on bonds issued for such construction, if the issuance of such bonds is authorized by a proposition approved by a majority of the votes cast thereon. The term of any such bonds shall not exceed 25 years.

California § 2107.4. (2107.4. (Amended by Stats. 1980, Ch. 777, Sec. 82.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.