California Legal Codes and Statutes

§ 54465

Added by Stats. 1949, Ch. 81.

Without limiting the authority granted, the legislative body may specifically provide that money collected from insurance against accident to or destruction of the physical enterprise shall be used for repairing or rebuilding the damaged or destroyed enterprise. The legislative body may provide that if the money is not so applied within a period specified by the local agency, it shall be applied to the retirement of any outstanding and unredeemed bonds issued for the enterprise.

Cite this section

Cal. Gov. Code § 54465 (2026)
https://ca.codecond.com/codes/gov/title-5-local-agencies/division-2-cities-counties-and-other-agencies/part-1-powers-and-duties-common-to-cities-counties-and-other-agencies/chapter-6-revenue-bond-law-of-1941/article-5-additional-powers-to-secure-bonds/section-54465

Other sections in Article 5 - Additional Powers to Secure Bonds

§ 54460§ 54461§ 54462§ 54463§ 54464§ 54465§ 54466§ 54467§ 54468§ 54469§ 54470§ 54471§ 54472§ 54473§ 54474§ 54475§ 54476§ 54477§ 54478

This content is for reference, learning, and study purposes only. All legal text should be verified against the official California Legislative Information website, which is the authoritative source for California law. Data last processed: February 15, 2026.