No part of the money belonging in the bond fund may be transferred to any other fund or be used for any purpose other than the payment of principal and interest of the bonds of the district, or for repayment of money borrowed for the purpose of paying the principal and interest of the bonds of the district, until said bonds are fully paid, at which time it may be transferred to any other fund.
Cal. Pub. Res. Code § 13176
Funds
Known as the Resort Improvement District Law
The act spans §§ 13000–13233 (105 sections).
Added by Stats. 1961, Ch. 2069.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.