The bonds may:
(a) Call for the payment of interest not exceeding 6 percent per year.
(b) Be of the denomination specified in the contract.
(c) Call for the repayment of the principal at such times as specified in the contract.
Cal. Water Code § 44056
Transfer or Deposit of Bonds
Known as the California Water Storage District Law
The act spans §§ 39000–48401 (681 sections).
Added by Stats. 1951, Ch. 391.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.