California § 8885 - Whenever the balance in the special reserve fund is sufficient to retire all rema
Full text of California Public Contract Code - PCC § 8885 — Whenever the balance in the special reserve fund is sufficient to retire all rema, with citation guidance and answers to common questions.
§ 8885. Whenever the balance in the special reserve fund is sufficient to retire all rema
Whenever the balance in the special reserve fund is sufficient to retire all remaining outstanding bonds in the issue, whether by advance retirement or otherwise, collection of the principal and interest on the assessments shall be discontinued and the special reserve fund shall be liquidated in retirement of the bonds. In the event that the balance in the fund at the time of liquidation exceeds the amount required to retire all outstanding bonds in the issue, the excess shall be apportioned to each parcel upon which the individual assessment remained unpaid at the time the balance in the reserve fund was sufficient to retire all outstanding bonds in the issue. The payments shall be made in cash to the respective owners of the parcels except that, if the excess is not greater than one thousand dollars ($1,000), the excess may be transferred to the general fund of the entity conducting the proceedings.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 8885
What does Public Contract Code - PCC § 8885 cover?
Section 8885 ("Whenever the balance in the special reserve fund is sufficient to retire all rema") 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 § 8885?
A common citation format is "Public Contract Code - PCC § 8885" (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 § 8885 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.