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DIVISION 20. MUNICIPAL WATER DISTRICTS 71000-73001›PART 7. BONDS 71852-71996›CHAPTER 6. Issuance and Sale of Bonds 71950-71975›ARTICLE 2. Sale of Bonds and Use of Proceeds 71970-71975

§ 71971

California Water Code · 2020-11 edition · updated 2026-10-04 · California

The proceeds from the sale of bonds shall be paid into the treasury of the district, placed to the credit of a special improvement fund, and expended only for the purpose for which the indebtedness was created. When such purpose has been accomplished, any moneys remaining in the special improvement fund may be transferred to the fund to be used for the payment of principal of and interest on the bonds.

(Added by Stats. 1963, Ch. 156.)

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California Water Code

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