In order to fully preserve and protect the priority and security of the bonds, the county shall pay from the special account in the local transportation fund and discharge all lawful claims for labor, materials and supplies, which if unpaid may become a lien or charge upon the designated revenues prior or superior to the lien of the bonds or impair the security of the bonds.
Cal. Pub. Util. Code § 99355
Limited Obligation Bonds
Known as the Mills-Alquist-Deddeh Act
The act spans §§ 99200–99420 (261 sections).
Added by Stats. 1971, Ch. 1400.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.