§ 26427 Bond Proceeds Use Limits

• •This law lets a contract say how money from selling bonds can be used.
• •The contract can limit the money to specific projects, like building a school or fixing a road.
• •The people in charge can't use the money for other things if the contract says no.

A town sells bonds to build a new park.

The contract says the money can only be used for the park. The town can't use that money to fix potholes instead.