Sts. & Hy. Code, § 27247 · Chapter 13. Issuance of District Bonds and Disposition of Surplus Proceeds
Sts. & Hy. Code, § 27247
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
If after paying the cost of constructing or acquiring or both the works and interest on the bonds during the actual period of construction and for a period of six months thereafter, there is a surplus of the proceeds of the bonds issued by the district, including all premiums paid there shall be set aside out of such surplus in a reserve interest fund an amount equal to one year’s interest on the bonds, or, if the surplus shall be less than one year’s interest on the bonds, all of the surplus shall be set aside.
Notes and commentary — not statutory text
History
Added by Stats. 1943, Ch. 286.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=SHC§ionNum=27247.
- Text hash
- sha256 5677f6bb11b93c072bdb5780b809033027a85a957db997653b113c8329a7711c
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.