California · Education Code

EDC §15234: Any money remaining in the interest and sinking fund of any district after the payment of all bonds and coupons payable from the fund, or any money in excess of an amount sufficient to pay all unpaid

What this law says, in plain English

This statute addresses how remaining money in a district's interest and sinking fund is handled after all bonds and coupons are paid, or when funds exceed what's needed for unpaid obligations.

Read the full statutory text

Any money remaining in the interest and sinking fund of any district after the payment of all bonds and coupons payable from the fund, or any money in excess of an amount sufficient to pay all unpaid bonds and coupons payable from the fund, shall be transferred to the general fund of the district upon the order of the auditor.

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