Article 3. County And Municipal Bonds of California Harbors And Navigation Code >> Division 8. >> Part 4. >> Chapter 4. >> Article 3.
Whenever, upon the creation of a district any municipality
therein or any county in which the district is located which has
theretofore authorized or incurred a bonded indebtedness for any work
or improvement for which the district may incur a bonded debt
pursuant to this part, and such municipality or such county
thereafter sells such bonds or any portion thereof, the proceeds of
the sale may, upon the order of the appropriate board of supervisors
or city council, be paid by the custodian into the treasury of the
district and shall be applied by the board, exclusively to the
purposes and objects for which the bonds were authorized by the
municipal corporation or the county issuing them.