DIVISION 16. HIGHWAY DISTRICTS 25000-27567›PART 3. BRIDGE AND HIGHWAY DISTRICTS 27000-27567›CHAPTER 13. Issuance of District Bonds and Disposition of Surplus Proceeds 27240-27250
§ 27248
California Streets and Highways Code · 2020-11 edition · updated 2026-10-04 · California
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.)
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