California · Public Utilities Code - PUC

PUC §99337: Every bond shall recite in substance that the principal of and interest on the bond are payable solely from the revenues pledged to its payment and that the county is not obligated to pay it, except f

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What this law says, in plain English

Bond agreements must state that principal and interest are paid only from pledged revenues and that the county has no obligation to pay them.

Read the full statutory text

Every bond shall recite in substance that the principal of and interest on the bond are payable solely from the revenues pledged to its payment and that the county is not obligated to pay it, except from the revenues.

Verify at the official source: California legislative text

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