§ 13969 Bond Sale Proceeds Use

Water Code·California

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Key Takeaways

•Money from selling bonds can only be used for the specific purpose mentioned in Section 13962.
•This money cannot be moved to the General Fund to pay back the bonds.
•The money in the fund can only be spent as allowed by this law.

Example

The government sells bonds to build new schools.

The money from selling those bonds can only be used to build schools, not for anything else like paying off other debts.

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

Official Source

View on CA.gov

§ 13969 Bond Sale Proceeds Use

All proceeds from the sale of bonds, except those derived from premiums and accrued interest, shall be available for the purpose provided in Section 13962 but shall not be available for transfer to the General Fund to pay principal and interest on bonds. The money in the fund may be expended only as herein provided. (Added by Stats. 1977, Ch. 1160. Approved in Proposition 2 at the June 6, 1978, election.)

Last verified: January 23, 2026

Key Terms

proceeds from the sale of bonds Section 13962 General Fund principal and interest on bonds

References

Official text at leginfo.legislature.ca.gov
California Legislature. Water Code. Section 13969.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References