Section 6550.15 Of Article 4. Improvement Districts From California Health And Safety Code >> Division 6. >> Part 1. >> Chapter 4. >> Article 4.
6550.15
. All taxes collected pursuant to this article shall be
expended only for the payment of bond principal and interest, or only
for the improvement district project for which levied, except that
any surplus tax proceeds levied otherwise than for payment of bond
principal and interest which remain after the completion of any
improvement district project for which levied shall be transferred to
the bond interest and redemption fund of such improvement district,
if any, otherwise to the district's general fund.