GroundRules
GOV § 53582
Where this section sits in the code
- Government Code - GOV
- TITLE 5. LOCAL AGENCIES [50001. - 57607.]
- DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000. - 55821.]
- PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000. - 54999.7.]
- CHAPTER 3. Bonds [53400. - 53595.55.]
- ARTICLE 11. Provisions Applicable to All Refunding Bonds of All Local Agencies [53580. - 53589.5.]
The proceedings of any local agency authorizing the issuance of bonds shall not require the deposit of any more moneys, obligations, and federal securities as are sufficient, taking into account both the principal amount of the moneys, obligations, and securities and the interest to become due thereon, to implement the refunding of those bonds. Federal securities and the interest thereon shall be used to satisfy any requirement of cash, money, specie, or lawful money in any proceeding conducted by a local agency before September 19, 1975.
Collected 2026-09-14T05:56:33Z. Source file · JSON