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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

§ 52861

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

No purchase of bonds shall be made pursuant to subdivision (a) of Section 52859 unless the unpaid principal amount of the assessment securing such bonds is in excess of the principal amount of outstanding and authorized bonds secured by such assessment.

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

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California Water Code

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