The bonds or any series thereof shall be payable within 40 years from their date, and not less than 10 percent of the aggregate face value of the bonds or any series thereof issued shall be payable within 15 years from their date.
Cal. Water Code § 45556
Bond Terms
Known as the California Water Storage District Law
The act spans §§ 39000–48401 (681 sections).
Amended by Stats. 1967, Ch. 829.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.