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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

§ 52856

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

No call for the purpose of creating a reserve fund shall be made until the United States, or department or agency thereof, has accepted 50 percent or more of the refunding bonds proposed to be issued under the plan.

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

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California Water Code

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