Government Code section 54432

Every bond shall recite in substance that the principal of and interest on the bond are payable solely from the revenues and other funds pledged or otherwise made available to its payment and that the local agency is not obligated to pay it except from the revenues of the enterprise and from such other funds.

Source: Section 54432, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=GOV§ionNum=54432. (updated Jan. 1, 1953; accessed Jun. 23, 2025).

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Verified:
Jun. 23, 2025

§ 54432's source at ca.gov

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Location: https://california.public.law/codes/government_code_section_54432

Original Source: Section 54432, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=GOV§ionNum=54432. (last accessed May 12, 2025).