California Water Code ARTICLE 6 - Disposition of Proceeds from Bond Sale

• Section 11760.
  The proceeds from the sale of bonds shall be paid to the Treasurer or the designee of the Treasurer to the credit of the construction...
• Section 11761.
  The proceeds shall be paid out, disbursed, or applied solely for one or more of the following:(a) The construction, reconstruction, and repair of the project.(b) Surveys and...
• Section 11761.5.
  (a) If the department sells bonds to finance a water purchase, the bonds, including all refinancing of the bonds, shall be scheduled to mature within five...
• Section 11762.
  The department may agree with the purchaser of bonds upon any conditions or limitations restricting the disbursement of the proceeds that may be deemed advisable...

Last modified: October 22, 2018