Cal. SHC § 8880
This is the official text of Cal. SHC § 8880, part of California’s Streets and Highways Code — governs the construction and maintenance of public roads.
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Official statutory text
In any proceedings leading to the issuance of bonds pursuant to this division, the legislative body may include, as an incidental expense of the proceedings, an amount to create a special reserve fund for the bonds.
The amount so provided shall not exceed 10 percent of the total amount of assessments to be levied under the proceedings.
The amount so provided shall not exceed 10 percent of the total amount of assessments to be levied under the proceedings.
Status: in_force · Read it on the official government site
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