Interest on any bonds issued by the district coming due before the proceeds of a tax levied at the next general tax levy after the sale of the bonds are available, and interest on any bonds issued by the district coming due before the expiration of one year following completion of the acquisition and construction of the works and improvements for which the bonds were issued may be paid from the proceeds of the sale of the bonds.
Cal. Water Code § 71973
Sale of Bonds and Use of Proceeds
Known as the Municipal Water District Law
The act spans §§ 71000–73001 (528 sections).
Amended by Stats. 1967, Ch. 105.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.