§ 26324 Bond Revenue Protection Clauses

• •This law lets a contract say that the money from bonds can only be used for certain things, like building or fixing stuff.
• •The contract can stop the people in charge from selling, renting, or messing with the stuff built with the bond money.
• •The rules in the contract help make sure there's enough money to pay back the people who bought the bonds.

A city builds a new park using money from bonds.

The contract for the bonds says the city can't sell or rent out the park to someone else. This makes sure the park stays open and makes money, so the city can pay back the people who lent them the money.