Payment of Proceeds into City Treasury: Special Improvement Funds: Expenditure for Purpose of Debt: Application of Surplus on Accomplishment of Purpose
San Diego Municipal Code § 61.1111
in effect§61.1111 Payment of Proceeds into City Treasury: Special Improvement Funds: Expenditure for Purpose of Debt: Application of Surplus on Accomplishment of Purpose
The proceeds from the sale of bonds, except for premium and accrued interest, if any, shall be paid into the treasury of the City, placed to the credit of a special improvement fund, and expended only for the purpose for which the indebtedness was created. When such purpose has been accomplished, any monies remaining in the special improvement fund may be transferred to the fund to be used for the payment of principal of and interest on the bonds. Premium and accrued interest, if any, shall be paid into the treasury and placed to the credit of the fund to be used for the payment of the principal of and interest on the bonds.
(“Payment of Proceeds into City Treasury: Special Improvement Funds: Expenditure for Purpose of Debt: Application of Surplus on Accomplishment of Purpose” added 1–20–1970 by O–10214 N.S.)
Source: City of San Diego Office of the City Clerk, San Diego Municipal Code and City Charter (docs.sandiego.gov PDFs)URL: https://docs.sandiego.gov/municode/MuniCodeChapter06/Ch06Art01Division11.pdf#page=3Fetched: 10/28/2026