Section 99351 Of Article 7. Limited Obligation Bonds From California Public Utilities Code >> Division 10. >> Part 11. >> Chapter 4. >> Article 7.
. After making allowances for contingencies and error in the
estimates, the taxes, for the respective purposes hereinafter set
forth, shall be at least sufficient to pay the following amounts in
the order set forth:
(a) The interest on and principal of the bonds as they become due
(b) All payments required for compliance with the resolution
authorizing the issuance of the bonds or any other contract with the
bondholders, including the creation of sinking and reserve funds.
(c) All payments to meet any other obligations of the county which
are charges, liens, or encumbrances upon the revenues.