California § 8772. 8772. (Amended by Stats. 1985, Ch. 65, Sec. 25.)

California Statutes

§ 8772. — 8772. (Amended by Stats. 1985, Ch. 65, Sec. 25.)

California § 8772.

Code SHCStreets and Highways Code - SHC

Div. 10.DIVISION 10. THE IMPROVEMENT BOND ACT OF 1915

Part 12.PART 12. REDEMPTION FUND DEFICIENCIES

This text of California § 8772. (8772. (Amended by Stats. 1985, Ch. 65, Sec. 25.)) 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.

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Cal. Streets and Highways Code - SHC Code § 8772. (2026).

Text

If the legislative body determines that in its judgment there will be a shortage in the redemption fund, it shall direct the treasurer to pay to the holders of all outstanding and unpaid bonds such proportion thereof as the amount of funds on hand bears to the total amount of the unpaid principal of the bonds and the interest which has accrued or will accrue thereon. Similar proportionate payments shall thereafter be made periodically as moneys come into the redemption fund.

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If the legislative body determines that in its judgment there will be a shortage in the redemption fund, it shall direct the treasurer to pay to the holders of all outstanding and unpaid bonds such proportion thereof as the amount of funds on hand bears to the total amount of the unpaid principal of the bonds and the interest which has accrued or will accrue thereon. Similar proportionate payments shall thereafter be made periodically as moneys come into the redemption fund.

Legislative History

Amended by Stats. 1985, Ch. 65, Sec. 25. Effective June 6, 1985.

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California § 8772., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/SHC/8772..