California · Military and Veterans Code - MVC
MVC §1003.2: The revenues shall be pledged first to the payment of the principal of and interest on the debentures and to all funds created for the further security of such debentures.
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The revenues shall be pledged first to the payment of the principal of and interest on the debentures and to all funds created for the further security of such debentures. In addition there shall be pledged to the payment of such principal and interest and all other charges, including reserve fund, sinking fund and all other payments required to be made in connection with the debentures, as further security therefor, such portions of the funds appropriated in Section 1003.1 as the Veterans’ Debenture Finance Committee shall deem necessary to adequately protect the rights of the debenture holders.
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