§ 50727 Bond Proceeds Use Limits

• •This law lets a contract say how money from selling bonds can be used.
• •The money can only be used for specific things, like building or fixing something.
• •The rules about how the money is used are decided before the bonds are sold.

A city sells bonds to build a new park and a library.

The contract for the bonds says the money can only be used for the park and library, not for fixing roads or anything else.