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DIVISION 12. COUNTY WATER DISTRICTS 30000-33901›PART 7. TAXES 31650-31822›CHAPTER 1. General Provisions 31650-31680›ARTICLE 1. In General 31650-31653

§ 31651

California Water Code · 2026-09 edition · updated 2026-10-03 · California

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.

(Added by Stats. 1949, Ch. 274.)

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California Water Code

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