Ca. Water Code § 35909 Bond Reserve Fund

• Library: California Codes
• Edition: 2023 Edition
• Currency: Current through the 2023 Legislative Session.
• Year: 2023
• Citation: Ca. Water Code § 35909

The board of directors may provide for a bond reserve fund for the purpose of payment of the principal of or interest on bonds of the district as the same shall become due. Except as otherwise provided in the resolution providing for the issuance of said bonds and so long as any of said bonds are outstanding, any moneys set aside in said bond reserve fund shall be used solely to pay the principal of or interest on said bonds as the same shall become due, in the ev...