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.­ (updated Jan. 1, 1953; accessed Jun. 23, 2025).

Green check means up to date. Up to date

Verified:
Jun. 23, 2025

§ 54420's source at ca​.gov