A district may issue warrants to pay the formation expenses of the district. The warrants may bear interest at a rate not exceeding 8 percent per year from the date of issue until funds are available to pay the warrants.
Cal. Water Code § 71800
Warrants
Known as the Municipal Water District Law
The act spans §§ 71000–73001 (528 sections).
Amended by Stats. 1974, Ch. 721.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.