California Legal Codes and Statutes

§ 54420

Amended by Stats. 1953, Ch. 526.

The bonds are special obligations of the local agency and are secured by a pledge of and shall be a charge upon, and shall be payable, as to the principal thereof, interest thereon, and any premiums upon the redemption of any thereof, solely from and secured by a lien upon the gross revenues of the enterprise and such funds as are described in the resolution authorizing the issuance of the bonds.

Cite this section

Cal. Gov. Code § 54420 (2026)
https://ca.codecond.com/codes/gov/title-5-local-agencies/division-2-cities-counties-and-other-agencies/part-1-powers-and-duties-common-to-cities-counties-and-other-agencies/chapter-6-revenue-bond-law-of-1941/article-4-provisions-relating-to-bonds/section-54420

Other sections in Article 4 - Provisions Relating to Bonds

§ 54400§ 54401§ 54402§ 54403§ 54404§ 54405§ 54406§ 54407§ 54408§ 54409…§ 54424§ 54425§ 54426§ 54427§ 54428§ 54429§ 54430§ 54431§ 54432§ 54435

This content is for reference, learning, and study purposes only. All legal text should be verified against the official California Legislative Information website, which is the authoritative source for California law. Data last processed: February 15, 2026.