Section 23917 Of Chapter 3.5. Alternative Provisions For The Formation Of Improvement Districts And The Issuance Of Bonds Therefor From California Water Code >> Division 11. >> Part 7. >> Chapter 3.5.

. The treasurer shall establish a separate fund for general obligation bonds of the district for each improvement district to which shall be apportioned money properly belonging to such general obligation bond fund. The money in any separate general obligation bond fund shall be used for the payment of bonds of the district for the particular improvement district and interest thereon and until the bonded indebtedness of the district therefor is discharged shall not be used for any other purpose.