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Code · California · Water Code

§ 36554

61 words·~1 min read·/ca/water-code/36554

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

The annual estimate may include an amount to be determined by the board but not to exceed 1 percent of the total assessed value of the land, which sum shall be apportioned to the bond fund and used for the redemption or purchase of unmatured bonds or for the creation of a sinking fund to pay bonds as they become due.
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