California Streets and Highways Code

§ 8880

SHC § 8880Div. 10 · Part 16

Statute text

In any proceedings leading to the issuance of bonds pursuant to this division, the legislative body may include, as an incidental expense of the proceedings, an amount to create a special reserve fund for the bonds. The amount so provided shall not exceed 10 percent of the total amount of assessments to be levied under the proceedings.

Legislative history

Amended by Stats. 1989, Ch. 104, Sec. 25.