Redevelopment plans may provide for the agency to issue bonds and expend the proceeds from their sale in carrying out the redevelopment plan. If such an issuance is provided for, the redevelopment plan shall also contain adequate provision for the payment of principal and interest when they become due and payable.
Cal. Health & Safety Code § 33341
Preparation and Adoption of Redevelopment Plans by the Agency
Known as the Community Redevelopment Law
The act spans §§ 33000–33855 (601 sections).
Added by Stats. 1963, Ch. 1812.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.