California · Military and Veterans Code - MVC
MVC §488.1: The interest on bond anticipation notes shall be payable from the same funds from which the interest on revenue bonds is payable.
What this law says, in plain English
Interest payments on bond anticipation notes come from the same funding source as interest payments on revenue bonds.
Read the full statutory text
The interest on bond anticipation notes shall be payable from the same funds from which the interest on revenue bonds is payable. The principal of such notes shall be payable from the proceeds of sale of revenue bonds, provided that the department shall not be precluded from paying such principal from any other moneys lawfully available therefor.
Verify at the official source: California legislative text
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