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HomeWater CodeDiv. 6Pt. 3Ch. 8Art. 8§ 11783 Bond Purchase And Use

§ 11783 Bond Purchase And Use

Water Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 11783 Bond Purchase And Use

This law says that any extra money from bonds must be used following the same rules as when the bonds were bought or called back.

Key Takeaways

  • •Extra money from bonds can't be spent randomly—it has to follow the original rules.
  • •The rules for buying or calling back bonds also apply to any leftover money.
  • •This makes sure money is used the way people were told it would be.

Example

Imagine a school gets extra money from selling bonds to build a new playground.

The school must use that extra money the same way they promised when they sold the bonds, like only spending it on the playground or paying back the bonds early.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 11783 Bond Purchase And Use

The terms upon which the bonds shall be purchased or called and such limitations and conditions as are mentioned in the preceding section shall be followed and observed in the application and use of such surplus. (Added by Stats. 1943, Ch. 370.)

Last verified: January 11, 2026

Key Terms

bondssurpluslimitations and conditions

Related Statutes

  • § 11781 Bond Purchase Surplus Handling
  • § 11782 Bond Surplus Application Rules
  • § 11780 Construction Fund Surplus Use
  • § 11784 Bond Retirement And Cancellation
  • § 11700 Department Bond Issuance Authority

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Water Code. Section 11783.
View Official Source