Cal. SHC § 9504
This is the official text of Cal. SHC § 9504, part of California’s Streets and Highways Code — governs the construction and maintenance of public roads.
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Official statutory text
It is the intention of this division that the outstanding bonds and the original assessments shall remain in full force and effect and secured by the original assessments until superseded and supplanted by reassessments and refunding bonds validly and legally issued pursuant to this division, at which time the reassessments shall become the security for the refunding bonds and the refunding escrow shall become the security for any outstanding bonds not exchanged for refunding bonds.
Status: in_force · Read it on the official government site
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