The money in the special reserve fund shall be available for transfer into the redemption fund for the bonds pursuant to Part 13 (commencing with Section 8800). The amount so advanced shall be reimbursed from the proceeds of redemption or sale of the parcel for which payment of delinquent installments was made from the special reserve fund.
Cal. Sts. & High. Code § 8883
SPECIAL SECURITY FUND
Known as the Improvement Bond Act
The act spans §§ 8500 to 8887 (148 sections).
Amended by Stats. 1981, Ch. 378, Sec. 2
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.