California · Harbors and Navigation Code - HNC

HNC §6351: Surplus revenues in the operation fund may be deposited either in the interest fund or the sinking fund, but money allocated to the interest fund or the sinking fund shall not be transferred to any ot

What this law says, in plain English

Surplus revenues from operations may be deposited into interest or sinking funds, but money allocated to these funds cannot be transferred elsewhere.

Read the full statutory text

Surplus revenues in the operation fund may be deposited either in the interest fund or the sinking fund, but money allocated to the interest fund or the sinking fund shall not be transferred to any other fund or used for any other purpose than the payment of the bonds and the interest thereon so long as the bonds are outstanding.

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