California Law (Last Updated: March 4, 2014) |
Public Utilities Code - PUC |
Division 10. TRANSIT DISTRICTS |
Part 11. PROVISIONS APPLICABLE TO ALL PUBLIC TRANSIT |
Chapter 4. Transportation Development |
ARTICLE 7. Limited Obligation Bonds |
Section 99356.
Latest version.
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The county shall hold in trust the revenues pledged to the payment of the principal of and interest on the bonds for the benefit of the bondholders and shall apply the same pursuant to the resolution authorizing the issuance of the bonds or to the resolution as modified.
(Added by Stats. 1971, Ch. 1400.)