California § 35909. 35909. (Added by Stats. 1959, Ch. 891.)

California Statutes

§ 35909. — 35909. (Added by Stats. 1959, Ch. 891.)

California § 35909.

JurisdictionCalifornia

Code WATWater Code - WAT

Div. 13.DIVISION 13. CALIFORNIA WATER DISTRICTS

Part 6.PART 6. FINANCIAL PROVISIONS

Ch. 1.CHAPTER 1. Funds and Warrants

This text of California § 35909. (35909. (Added by Stats. 1959, Ch. 891.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Water Code - WAT Code § 35909. (2026).

Text

The board of directors may provide for a bond reserve fund for the purpose of payment of the principal of or interest on bonds of the district as the same shall become due. Except as otherwise provided in the resolution providing for the issuance of said bonds and so long as any of said bonds are outstanding, any moneys set aside in said bond reserve fund shall be used solely to pay the principal of or interest on said bonds as the same shall become due, in the event and to the extent that other available moneys of the district are insufficient therefor. When all of the principal of or interest on said bonds has been paid, the balance of the money remaining in the bond reserve fund shall be transferred to the general fund.

Free access — add to your briefcase to read the full text and ask questions with AI

The board of directors may provide for a bond reserve fund for the purpose of payment of the principal of or interest on bonds of the district as the same shall become due. Except as otherwise provided in the resolution providing for the issuance of said bonds and so long as any of said bonds are outstanding, any moneys set aside in said bond reserve fund shall be used solely to pay the principal of or interest on said bonds as the same shall become due, in the event and to the extent that other available moneys of the district are insufficient therefor. When all of the principal of or interest on said bonds has been paid, the balance of the money remaining in the bond reserve fund shall be transferred to the general fund.

Legislative History

Added by Stats. 1959, Ch. 891.

View on official source ↗

Cite This Page — Counsel Stack

Bluebook (online)

California § 35909., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/WAT/35909..