The revenues and any interest earned on the revenues and all other funds specified in the resolution authorizing the issuance of the bonds constitute a trust fund for the security and payment of the interest on and principal of the bonds.
Cal. Gov. Code § 54423
Provisions Relating to Bonds
Known as the Revenue Bond Law
The act spans §§ 54300 to 54700 (157 sections).
Amended by Stats. 1953, Ch. 526.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.