If the bonds are made to mature at one time, the annual tax levy shall be sufficient to pay the interest on the bonds as it comes due and create a sinking fund for the payment of the principal on or before maturity.
Cal. Gov. Code § 43787
Investment Bond Act of 1909
Known as the Investment Bond Act
The act spans §§ 43760–43797 (38 sections).
Added by Stats. 1949, Ch. 79.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.