SECTIONS 13111-13112 - California Statutes

PUBLIC UTILITIES CODE

SECTION 13111-13112

13111. All bonds issued by a district pursuant to this chapter
shall be, and shall recite upon their face that they are, payable
both as to principal and interest, and as to any premiums upon the
redemption thereof, out of the revenues pertaining to the electric
system on account of which the indebtedness evidenced by such bonds
was created, and not out of any other fund or moneys of the district.

13112. The provisions of this article shall not preclude any of the
following:
(1) The payment of any such principal, interest or premiums
through appropriate reserve funds or special trust accounts,
established as hereinafter in this article provided.
(2) The payment of interest on or principal of bonds of any such
issue out of sums received as premiums or accrued interest on the
sale of that issue.
(3) The payment of any such principal or premiums out of the
proceed of the sale of refunding bonds issued for that purpose.
(4) The payment out of the proceeds of any bonds of the whole or a
part of the interest accruing on said bonds during the period of the
performance of work to be paid for out of such proceeds.
(5) The payment of any such principal, interest or premiums by the
purchasers of any such bonds, or by any entity, public or private,
other than the district, in any case where any such purchaser or
entity may have guaranteed such payment.