The bonds shall bear interest at a rate or rates not to exceed 8 percent per year, payable semiannually, except that interest for the first year may be payable at the end of that year.
Cal. Water Code § 71953
Issuance and Terms
Known as the Municipal Water District Law
The act spans §§ 71000 to 73001 (528 sections).
Amended by Stats. 1975, Ch. 130.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.