California CodesBusiness and Professions Code - BPCDivision 8 — Special Business RegulationsChapter 4 — Horse RacingArticle 9.2 — Satellite WageringSection 19608.5
All revenues payable to the state and deposited in a separate account in the fund pursuant to Section 19606.1 that are allocated by the Secretary of Food and Agriculture for the purposes of paragraph (1) of subdivision (a) of Section 19606.1 are hereby pledged for the repayment of the principal of, and interest on, bonds issued by a joint powers agency, or of other debt service or expense incurred for the purposes described in that paragraph (1).
Notes
Establishes that specified state revenues deposited in a separate fund account and allocated by the Secretary of Food and Agriculture are pledged to repay principal and interest on joint-powers-agency bonds, or other debt service or expenses, incurred for the purposes identified in the referenced allocation provision.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 19608.5 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-8/chapter-4/article-9-2/section-19608-5