Cal. Government Code § 57460
Cal. Government Code § 57460
California · California Government Code · Status: effective · Effective 1985-09-09
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- Citation
- Cal. Government Code § 57460, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/850106
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Full text
If at the time of distribution more than one city or county or any combination of cities or counties are entitled to distribution of portions of a revenue-producing enterprise but the successor is unable to distribute the same because of Section 57459, the successor shall retain the revenue-producing enterprise and all revenues derived from that enterprise until payment, or provision for payment, has been made of all principal, interest, and any other amounts owing on account of outstanding bonds, contracts, or other obligations which are payable in whole or in part from the revenues of the enterprise, at which time the successor shall distribute the enterprise and any revenues derived therefrom in accordance with Section 57457.