The legislative body may provide limitations on:
(a) The purpose to which the proceeds of sale of any issue of bonds may be applied.
(b) The issuance of additional bonds for the same purpose and on the lien of additional bonds.
Cal. Gov. Code § 50667.3
Limited Obligation Bonds
Added by Stats. 1985, Ch. 320, Sec. 2.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.