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HomeWater CodeDiv. 6Pt. 3Ch. 8Art. 8§ 11780 Construction Fund Surplus Use

§ 11780 Construction Fund Surplus Use

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

§ 11780 Construction Fund Surplus Use

This law says that if there's extra money left in a construction fund, it must be used to pay off the loans (bonds) taken for that construction project.

Key Takeaways

  • •Extra money in a construction fund can't be used for other things.
  • •It must go toward paying off the construction loan (bonds).
  • •This helps finish paying for the project faster.

Example

Imagine a school builds a new gym with a loan, but ends up with leftover money in the budget.

The school must use that extra money to pay back the loan instead of spending it on something else.

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

Official Source
View on CA.gov

§ 11780 Construction Fund Surplus Use

Any surplus which exists in the construction fund shall be applied to the retirement of bonds issued for construction of the project by purchase or call. (Added by Stats. 1943, Ch. 370.)

Last verified: January 11, 2026

Key Terms

surplusconstruction fundretirement of bondspurchase or call

Related Statutes

  • § 11781 Bond Purchase Surplus Handling
  • § 11782 Bond Surplus Application Rules
  • § 11783 Bond Purchase And Use
  • § 11736 Bond Early Retirement Authority
  • § 11760 Bond Proceeds Deposit

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Water Code. Section 11780.
View Official Source