The legislative body may provide in its order levying the supplemental assessment that the supplemental assessments may be collected in annual installments during the remaining term of years during which the bonds run, an equal proportion of principal coming due in each of the remaining years. However, any property owner may pay the whole of the supplemental assessment subsequent to the order of the legislative body and before the amount has been extended on the tax roll, whereupon interest shall cease on such assessment.
Cal. Sts. & High. Code § 8782
REDEMPTION FUND DEFICIENCIES
Known as the Improvement Bond Act
The act spans §§ 8500 to 8887 (148 sections).
Added by Stats. 1941, 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.