Any funds derived pursuant to Section 35470 in excess of the amount necessary for operating or maintenance expenses and other lawful district purposes shall be applied by the treasurer upon the payment of interest on general obligation bonds or to create a sinking fund.
Cal. Water Code § 35471
Charges
Known as the California Water District Law
The act spans §§ 34000–38501 (855 sections).
Amended by Stats. 1976, Ch. 1044.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.