California Health and Safety Code 55112 – The local agency may create one or more bond reserve accounts to …
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The local agency may create one or more bond reserve accounts to secure payments of the principal of, and interest and sinking fund payments on, any bonds or any issuance thereof, as specified in the resolution authorizing the bonds.
(Added by Stats. 1982, Ch. 1602, Sec. 1.)
Terms Used In California Health and Safety Code 55112
- Bonds: means bonds, notes, or other evidence of indebtedness issued by a local agency pursuant to Part 2 (commencing with Section 55100) of this division, including bonds issued to refund previously issued bonds or other indebtedness. See California Health and Safety Code 55001
- Local agency: means a city, county, or city and county. See California Health and Safety Code 55001