Limited tax bonds issued under this chapter may be used only for the following purposes:
(a)
To finance the capital outlay expenditures for those qualifying facilities which the agency is authorized to construct, acquire, or furnish pursuant to Section 26299.032.(b)
To pay costs incurred in the issuance of the limited tax bonds.(c)
To fund a reserve fund for the limited tax bonds.
Source:
Section 26299.062, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=GOV§ionNum=26299.062..