No new bond shall be issued when the apportioned amount is less than fifty dollars ($50). If it is less, the apportioned amount shall be paid to the treasurer in cash for the benefit of the holder of the existing bond at or prior to the time of filing the application referred to in Section 6483.
Cal. Sts. & High. Code § 6487
Division of Land and Bond
Known as the Improvement Act
The act spans §§ 5000–6794 (521 sections).
Amended by Stats. 1963, Ch. 631.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.