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HomePublic Utilities CodeDiv. 6Ch. 7Art. 3§ 13262 Bond Proceeds Use Requirements

§ 13262 Bond Proceeds Use Requirements

Public Utilities Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 13262 Bond Proceeds Use Requirements

Key Takeaways

  • •Money from bonds must go to the district's treasury.
  • •The money can only be used for the exact reason the bonds were approved for.
  • •No using the money for anything else, even if it seems important.

Example

A school district sells bonds to build a new playground.

The money from those bonds can only be used to build the playground. They can't use it to buy new computers or fix the roof, even if those things are needed.

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

Official Source
View on CA.gov

§ 13262 Bond Proceeds Use Requirements

The proceeds of the bonds shall be placed in the district treasury to the credit of the proper fund, and shall be used exclusively for the objects or purposes for which the bonds were voted. (Enacted by Stats. 1951, Ch. 764.)

Last verified: January 23, 2026

Key Terms

proceeds of the bondsdistrict treasuryobjects or purposes

Related Statutes

  • § 26262 Bond Proceeds Allocation Rules
  • § 100460 Transit Equipment Purchase Authority
  • § 100461 Equipment Trust Agreements
  • § 100462 Vta Equipment Trust Agreements
  • § 100463 Vta Agreement Conflict Prohibition

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Public Utilities Code. Section 13262.
View Official Source