Government Code section 54420

The bonds are special obligations of the local agency and are secured by a pledge of and shall be a charge upon, and shall be payable, as to the principal thereof, interest thereon, and any premiums upon the redemption of any thereof, solely from and secured by a lien upon the gross revenues of the enterprise and such funds as are described in the resolution authorizing the issuance of the bonds.

Source: Section 54420, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=GOV§ionNum=54420. (accessed May 26, 2025).

Last Updated

May 12, 2025

§ 54420’s source at ca.gov

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Location: https://california.public.law/codes/government_code_section_54420

Original Source: Section 54420, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=GOV§ionNum=54420. (last accessed May 12, 2025).