California Statutes
§ 8880. — 8880. (Amended by Stats. 1989, Ch. 104, Sec. 25.)
California·Code SHC Streets and Highways Code - SHC·Div. 10. DIVISION 10. THE IMPROVEMENT BOND ACT OF 1915·Part 16. PART 16. SPECIAL SECURITY FUND
In any proceedings leading to the issuance of bonds pursuant to this division, the legislative body may include, as an incidental expense of the proceedings, an amount to create a special reserve fund for the bonds.
The amount so provided shall not exceed 10 percent of the total amount of assessments to be levied under the proceedings.
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California § 8880. (8880. (Amended by Stats. 1989, Ch. 104, Sec. 25.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 1989, Ch. 104, Sec. 25.