California Streets and Highways Code 27248 – The money in the reserve interest fund shall be deposited in the same …
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The money in the reserve interest fund shall be deposited in the same manner as other funds of the district or invested in securities which are legal investments for public funds, and the fund shall be used solely for the payment of interest on such bonds whenever there shall be a deficit in the revenues of the works and only to the extent of such deficit.
(Added by Stats. 1943, Ch. 286.)
Terms Used In California Streets and Highways Code 27248
- district: means a bridge and highway district unless the context clearly indicates otherwise. See California Streets and Highways Code 27001