DIVISION 15. RECLAMATION DISTRICTS 50000-53901›PART 8. BONDS AND REFUNDING BONDS 52100-52862›CHAPTER 5. Creation of Reserve Fund Pursuant to Agreement With the United States 52850-52862

§ 52851

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

The money in the reserve fund shall be used to pay the installments of principal and interest of any outstanding bonds secured by the assessment when the amount in the bond fund is insufficient to meet such installments on any January 1st or July 1st, as the case may be.

(Added by Stats. 1951, Ch. 336.)

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California Water Code

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