Statute · California Education Code
Cal. Educ. Code § 17199.5 — California School Finance Authority
Cal. Educ. Code § 17199.5
- Type
- Statute
- Source
- California Education Code
- Jurisdiction
- California
- Date
- 2023-07-10
- Current through
- Nov 2, 2026 (California Legislative Counsel)
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…
Citator
Cal. Educ. Code § 17199.5 — California School Finance Authority is in force in the current edition of the Code, and nothing recorded condemns it.
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.