§ 35431. — 35431. (Added by Stats. 1953, Ch. 256.)

California § 35431.

• Jurisdiction: California
• Code SHC: Streets and Highways Code - SHC
• Div. 18.: DIVISION 18. PARKING
• Part 4.: PART 4. PARKING DISTRICT LAW OF 1951
• Ch. 3.: CHAPTER 3. Bonds, Acquisitions and Improvements

Text

Notwithstanding the provisions of Section 35429, the bonds issued under Section 35430 to provide additional public parking facilities for the district may in part be secured by revenues from facilities acquired with the proceeds of bonds previously issued, to the extent that the allocation and pledge of such revenues to payment of the additional bonds is not prohibited by the ordinance, resolution or indenture providing for the bonds previously issued. The revenues from such additional facilities may be used to pay principal and interest on bonds previously issued to the extent authorized by the ordinance, resolution or indenture providing for the issuance of the bonds issued for such additional facilities.

Legislative History

Added by Stats. 1953, Ch. 256.