California Law (Last Updated: March 4, 2014) |
Government Code - GOV |
Title 5. LOCAL AGENCIES |
Division 2. CITIES, COUNTIES, AND OTHER AGENCIES |
Part 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES |
Chapter 6. Revenue Bond Law of 1941 |
ARTICLE 4. Provisions Relating to Bonds |
Section 54423.
Latest version.
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The revenues and any interest earned on the revenues and all other funds specified in the resolution authorizing the issuance of the bonds constitute a trust fund for the security and payment of the interest on and principal of the bonds.
(Amended by Stats. 1953, Ch. 526.)