§ 31651
66 words·~1 min read·
/ca/water-code/31651A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If the maturity of the indebtedness created by an issue of bonds begins more than one year after the date of issuance, a tax shall be levied and collected pursuant to this part annually sufficient to pay the interest on the indebtedness as it falls due and also to constitute a sinking fund for the payment of the principal of the bonds on or before maturity.