Streets and Highways Code § 9542
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When refunding bonds are issued, the reassessments and any reassessments which may be issued thereon or in lieu thereof, together with interest thereon, shall remain and constitute a trust fund for the redemption and payment of the refunding bonds and the interest thereon.
(Added by Stats. 1984, Ch. 496, Sec. 1. Effective July 17, 1984.)