Cal. Wat. Code § 31651

Current through the 2023 Legislative Session.

Section 31651 - Levy and collection of taxes if maturity of indebtedness created by issue of bonds begins more than one year after date of issuance

If the maturity of the indebtedness created by an issue of bonds begins more than one year after the date of issuance, a tax shall be levied and collected pursuant to this part annually sufficient to pay the interest on the indebtedness as it falls due and also to constitute a sinking fund for the payment of the principal of the bonds on or before maturity.

Ca. Water Code § 31651

Added by Stats. 1949, Ch. 274.