§ 99352 Bond Repayment Special Account

• •A special bank account must be made before selling bonds for transportation projects.
• •This account must stay open as long as the bonds or their interest are not fully paid.
• •The money in this account is only for transportation projects.

A city wants to build new roads and sells bonds to get money for it.

The city must create a special bank account just for this road project. They can't close this account until all the borrowed money and its interest are paid back.