If the proceedings authorizing the issuance of bonds do not require surplus revenues to be held or applied in any particular manner, they shall be allocated and used for such other purposes incidental to the construction, operation, and maintenance of the project and for making necessary replacements thereto as the department may determine.
Cal. Water Code § 11842
Investment and Use of Surplus Money
Applied in 1 court decision — leading case 60 Cal. 2d 579 - Warne v. Harkness (1963)
Most recently applied in 60 Cal. 2d 579 - Warne v. Harkness (December 1963)
Amended by Stats. 1957, Ch. 1932.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.