Whenever there is in any fund of the district money in excess of that required for the purposes of the fund up to the time when any part of the next annual assessment levied or to be levied in the district will become delinquent, the district may purchase with this surplus money or any part of it any of its outstanding bonds not yet due.
Cal. Water Code § 24506
Payment and Purchase of Bonds
Known as the Irrigation District Law
The act spans §§ 20500–29978 (1,017 sections).
Added by Stats. 1943, Ch. 372.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.