Statute · California Streets and Highways Code
Cal. Sts. & High. Code § 8771 — REDEMPTION FUND DEFICIENCIES
Cal. Sts. & High. Code § 8771
- Type
- Statute
- Source
- California Streets and Highways Code
- Jurisdiction
- California
- Date
- 1985-06-06
- Current through
- Nov 2, 2026 (California Legislative Counsel)
On receipt of the report, the legislative body shall fix a date for hearing thereon. The clerk shall give notice of the hearing by posting for 10 days. At the hearing the legislative body shall determine whether in its judgment there will ultimately be insufficient money in the redemption fund…
Citator
Cal. Sts. & High. Code § 8771 — REDEMPTION FUND DEFICIENCIES is in force in the current edition of the Code, and nothing recorded condemns it.
On receipt of the report, the legislative body shall fix a date for hearing thereon. The clerk shall give notice of the hearing by posting for 10 days. At the hearing the legislative body shall determine whether in its judgment there will ultimately be insufficient money in the redemption fund to discharge the unpaid bonds and interest. If it determines that in its judgment there will be no such shortage, it shall direct the treasurer to pay matured bonds and interest as long as there is available money in the redemption fund.