California § 24476 - A district may provide for a reserve fund to be used for the payment of the inter
Full text of California Public Contract Code - PCC § 24476 — A district may provide for a reserve fund to be used for the payment of the inter, with citation guidance and answers to common questions.
§ 24476. A district may provide for a reserve fund to be used for the payment of the inter
A district may provide for a reserve fund to be used for the payment of the interest or principal of any outstanding bonds. If the estimate referred to in Section 24955 and the order determining the amount of bonds provided for in Section 24962, provide for a revenue bond reserve fund in a specified amount to be set aside out of the proceeds of sale of revenue bonds, then the district may, upon the sale of any bonds payable solely from revenues, create such revenue bond reserve fund and set aside in such fund out of the proceeds of sale of such bonds a sum not exceeding such specified amount, such fund to be maintained from revenues and used and withdrawn solely for the purpose of paying the principal of and interest on such bonds in the event that no other funds are available therefor.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 24476
What does Public Contract Code - PCC § 24476 cover?
Section 24476 ("A district may provide for a reserve fund to be used for the payment of the inter") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 24476?
A common citation format is "Public Contract Code - PCC § 24476" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 24476 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.