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TITLE 1. GENERAL EDUCATION CODE PROVISIONS 1-32500›DIVISION 1. GENERAL EDUCATION CODE PROVISIONS 1-32500›PART 10. SCHOOL BONDS 15100-17199.6›CHAPTER 18. California School Finance Authority 17170-17199.6

§ 17199.5

California Education Code · 2018-11 edition · updated 2026-10-04 · California

Notwithstanding Section 17199.4, if the bonds were subject to a credit enhancement agreement provided by a public credit provider pursuant to Section 17193.5 for which a payment for principal or interest, or both, has been made by the public credit provider, the Controller shall allocate to the public credit provider, rather than the trustee, the percentage of the apportionment to be made pursuant to this paragraph equal to the percentage of the outstanding indebtedness which is subject to the credit enhancement agreement.

(Added by Stats. 1998, Ch. 1076, Sec. 2. Effective January 1, 1999.)

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California Education Code

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