GroundRules
GOV § 54425
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 6. Revenue Bond Law of 1941 [54300. - 54700.]
- ARTICLE 4. Provisions Relating to Bonds [54400. - 54435.]
If the interest and principal of the bonds and all charges to protect or secure them are paid when due an amount for the necessary and reasonable maintenance and operation costs of the enterprise, which costs include the reasonable expenses of management, repair and other expenses necessary to maintain and preserve the enterprise in good repair and working order, may be apportioned from the revenues, and subject to any limiting covenants in the resolution providing for the issuance of bonds, the remaining surplus may be used for any lawful purpose of the local agency.
Collected 2026-09-14T05:56:33Z. Source file · JSON