Cal. Gov. Code § 54420

Current through the 2023 Legislative Session.
Section 54420 - Special obligations of local agency

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.

Ca. Gov. Code § 54420

Amended by Stats. 1953, Ch. 526.