TITLE 3. GOVERNMENT OF COUNTIES 23000-33205›DIVISION 2. OFFICERS 24000-28085›PART 2. BOARD OF SUPERVISORS 25000-26490›CHAPTER 13.8. County Regional Justice Facilities Financing Act 26299.000-26299.083›ARTICLE 4. Bonds 26299.060-26299.083
§ 26299.071
California Government Code · 2020-11 edition · updated 2026-10-04 · California
All accrued interest and premiums received on the sale of the bonds shall be placed in the fund to be used for the payment of the principal of and interest on the bonds, and the remainder of the proceeds of the bonds shall be placed in the treasury of the agency and applied to secure the bonds or for the purposes for which the debt was incurred. However, when the purposes have been accomplished, any money remaining shall be either (a) transferred to the fund to be used for the payment of principal of and interest on the bonds, or (b) placed in a fund to be used for the purchase of the outstanding bonds in the open market at prices and in the manner, either at public or private sale or otherwise, as determined by the agency. Bonds so purchased shall be cancelled immediately.
(Added by Stats. 1989, Ch. 1335, Sec. 1.5.)
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