Statute · California Government Code
Cal. Gov't Code § 53582 — Provisions Applicable to All Refunding Bonds of All Local Agencies
Cal. Gov't Code § 53582
- Type
- Statute
- Source
- California Government Code
- Jurisdiction
- California
- Date
- 1985-09-27
- Current through
- Nov 2, 2026 (California Legislative Counsel)
The proceedings of any local agency authorizing the issuance of bonds shall not require the deposit of any more moneys, obligations, and federal securities as are sufficient, taking into account both the principal amount of the moneys, obligations, and securities and the interest to become due…
Citator
Cal. Gov't Code § 53582 — Provisions Applicable to All Refunding Bonds of All Local Agencies is in force in the current edition of the Code, and nothing recorded condemns it.
The proceedings of any local agency authorizing the issuance of bonds shall not require the deposit of any more moneys, obligations, and federal securities as are sufficient, taking into account both the principal amount of the moneys, obligations, and securities and the interest to become due thereon, to implement the refunding of those bonds. Federal securities and the interest thereon shall be used to satisfy any requirement of cash, money, specie, or lawful money in any proceeding conducted by a local agency before September 19, 1975.