The principal and interest on the bond anticipation notes may be paid from any money available for their payment. Any portion of the principal or interest which is due and payable shall be paid from the proceeds of the next sale of bonds in anticipation of which the notes were issued.
Cal. Sts. & High. Code § 8745.2
BOND ANTICIPATION NOTES
Known as the Improvement Bond Act
The act spans §§ 8500 to 8887 (148 sections).
Added by Stats. 1984, Ch. 1298, Sec. 15.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.