§ 9231
43 words·~1 min read·
/ca/streets-and-highways-code/9231A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
When refunding bonds are issued, the reassessments and any reassessments which may be issued thereon or in lieu thereof, together with interest thereon, shall remain and constitute a trust fund for the redemption and payment of the refunding bonds and the interest thereon.