No purchase of bonds shall be made pursuant to subdivision (a) of Section 52859 unless the unpaid principal amount of the assessment securing such bonds is in excess of the principal amount of outstanding and authorized bonds secured by such assessment.
Cal. Water Code § 52861
Creation of Reserve Fund Pursuant to Agreement With the United States
Added by Stats. 1951, Ch. 336.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.