Any cash collected on reassessments and not required to pay consenting bondholders may also be used to reimburse in whole or in part any local agency, person, or corporation making the advance, and the legislative body may contract to so apply such cash.
Cal. Gov. Code § 59594
Acquisition and Cancellation of Bonds of Nonconsenting Bondholders
Known as the Special Assessment and Bond Refunding Law
The act spans §§ 59100–59674 (167 sections).
Added by Stats. 1951, Ch. 331.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.