Cal. Ed. Code § 17199.5
Current through the 2023 Legislative Session.
Notwithstanding Section 17199.4, if the bonds were subject to a credit enhancement agreement provided by a public credit provider pursuant to Section 17193.5 for which a payment for principal or interest, or both, has been made by the public credit provider, the Controller, or the county treasurer or other appropriate county fiscal officer, as applicable, shall allocate to the public credit provider, rather than the trustee, the percentage of the apportionment to be made pursuant to this paragraph equal to the percentage of the outstanding indebtedness that is subject to the credit enhancement agreement.
Ca. Educ. Code § 17199.5