California Health and Safety Code

§ 51002

HSC § 51002Div. 31 · Part 3 · Ch. 3

Statute text

Subject to any agreements with holders of particular bonds, revenue derived pursuant to this part from property improvement loans and mortgage loans shall be deposited in a special account, which shall be used exclusively for the amortization of debt and the protection of the underlying security, until current debt service and reserves are funded.

Legislative history

Amended by Stats. 1979, Ch. 1207.