California Statutes
§ 8671. — 8671. (Amended by Stats. 1993, Ch. 194, Sec. 13.)
California § 8671.
JurisdictionCalifornia
Code SHCStreets and Highways Code - SHC
Div. 10.DIVISION 10. THE IMPROVEMENT BOND ACT OF 1915
Part 7.PART 7. BOND RECORDS AND PAYMENTS
This text of California § 8671. (8671. (Amended by Stats. 1993, Ch. 194, Sec. 13.)) 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. Streets and Highways Code - SHC Code § 8671. (2026).
Text
The treasurer or designated paying agent shall keep a redemption fund designated by the name of the bonds, in which there shall be placed all sums received from the collection of the assessments made. The fund shall be considered a trust fund for the benefit of the bondholders. The redemption fund shall be used for paying principal and interest and redemption premium, if any, payments on the bonds directly, or money in the fund may be forwarded to the paying agent for these purposes. Under no circumstances shall the bonds or the interest thereon be paid out of any other fund.
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Legislative History
Amended by Stats. 1993, Ch. 194, Sec. 13. Effective January 1, 1994.
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California § 8671., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/SHC/8671..