The amounts raised and to be raised by the district during the current fiscal year for repayment of principal and interest for any bonds, issued and sold by an applicant district, which are in excess of the “basic bond requirement,” as defined in Section 16002.5, shall not be considered as “eligible bonded debt service” for purposes of computing repayments or deferments pursuant to Sections 16070, 16072, 16073, 16084 and 16086.
(Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)
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