If there is a surplus or a deficit in the improvement fund of an assessment district at the end of any fiscal year, the surplus or deficit shall be carried forward to the next annual assessment to be levied within such district and applied as a credit or a debit, as the case may be, against such assessment.
Cal. Sts. & High. Code § 22656
Financial Provisions
Known as the Landscaping and Lighting Act
The act spans §§ 22500–22679 (95 sections).
Added by Stats. 1972, Ch. 630.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.