The legislative body may also specifically provide that the proceeds of insurance against loss of revenue shall be used solely for the payment and retirement of the bonds issued for acquisition, construction, or improvement of the enterprise.
Cal. Gov. Code § 54466
Additional Powers to Secure Bonds
Known as the Revenue Bond Law
The act spans §§ 54300 to 54700 (157 sections).
Added by Stats. 1949, Ch. 81.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.