California Statutes
§ 8770. — 8770. (Amended by Stats. 1993, Ch. 194, Sec. 19.)
California·Code SHC Streets and Highways Code - SHC·Div. 10. DIVISION 10. THE IMPROVEMENT BOND ACT OF 1915·Part 12. PART 12. REDEMPTION FUND DEFICIENCIES
If it appears to the treasurer that there is danger of an ultimate loss accruing to the bondholders for any reason, he or she shall withhold payment on all matured bonds and interest and report the facts to the legislative body so that proper action may be taken by that body to equitably protect all bondholders.
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California § 8770. (8770. (Amended by Stats. 1993, Ch. 194, Sec. 19.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 1993, Ch. 194, Sec. 19. Effective January 1, 1994.