Notwithstanding any other provisions of law, such funds, when so borrowed by a waterworks district, shall forthwith increase the appropriations of the district for which they are needed. The governing body of the entity from which the funds are borrowed may specify the date and manner in which the funds shall be repaid. In no case shall repayment of the loan be deferred longer than 10 calendar years.
Cal. Water Code § 55503.5
General Provisions
Known as the County Waterworks District Law
The act spans §§ 55000–55991 (184 sections).
Amended by Stats. 1971, Ch. 674.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.