§ 13177 Bond Proceeds Surplus Use

Public Utilities Code·California

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Key Takeaways

•If there's leftover money from selling bonds after the project is done, the board can decide what to do with it.
•The leftover money can be used to buy back bonds, pay off bonds early, or pay interest on the bonds.
•The money can also be moved to the electric system's funds if the bonds were for that.

Example

A city sells bonds to build a new power plant. After the plant is built, there's $100,000 left over.

The city can use that extra money to pay off some of the bonds early or put it into the electric system's budget.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 13177 Bond Proceeds Surplus Use

If any excess of the principal sum of the proceeds of any issue of bonds shall remain unexpended after the full accomplishment of the purpose for which such bonds were issued the board, by resolution, may direct that the same shall be applied to the purchase of bonds of that issue, or to the payment of any such bonds, at maturity or on redemption, or to the payment of interest thereon or of premiums due on the redemption thereof, or that it shall be transferred to the revenues pertaining to the electric system in connection with which such bonds were issued. (Added by Stats. 1957, Ch. 2237.)

Last verified: January 23, 2026

Key Terms

excess of the principal sum proceeds of any issue of bonds unexpended board resolution purchase of bonds payment of any such bonds payment of interest premiums due on the redemption transferred to the revenues electric system

References

Official text at leginfo.legislature.ca.gov
California Legislature. Public Utilities Code. Section 13177.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References