California § 36404. 36404. (Added by Stats. 1954, 1st Ex. Sess., Ch. 2.)

California Statutes

§ 36404. — 36404. (Added by Stats. 1954, 1st Ex. Sess., Ch. 2.)

California § 36404.

JurisdictionCalifornia

Code WATWater Code - WAT

Div. 13.DIVISION 13. CALIFORNIA WATER DISTRICTS

Part 6.PART 6. FINANCIAL PROVISIONS

Ch. 4.5.CHAPTER 4.5. Provisions Relating to Short Term Borrowings

This text of California § 36404. (36404. (Added by Stats. 1954, 1st Ex. Sess., Ch. 2.)) 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.

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Cal. Water Code - WAT Code § 36404. (2026).

Text

The board may, in its resolution authorizing the issuance of such warrants, provide that the warrants shall be subject to call and redemption prior to maturity, at the option of the district, at such price or prices as may be fixed in the resolution, not exceeding a premium of 6 percent of the par value of the warrants so subject to redemption. The resolution shall fix the method of giving notice of redemption to the holders of warrants to be redeemed and the price or prices at which the warrants shall be subject to redemption. Warrants so subject to call and redemption prior to maturity shall contain a recital to that effect on their face, and no warrant issued under this chapter shall be subject to call or redemption prior to its fixed maturity date unless it contains such recital.

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The board may, in its resolution authorizing the issuance of such warrants, provide that the warrants shall be subject to call and redemption prior to maturity, at the option of the district, at such price or prices as may be fixed in the resolution, not exceeding a premium of 6 percent of the par value of the warrants so subject to redemption. The resolution shall fix the method of giving notice of redemption to the holders of warrants to be redeemed and the price or prices at which the warrants shall be subject to redemption. Warrants so subject to call and redemption prior to maturity shall contain a recital to that effect on their face, and no warrant issued under this chapter shall be subject to call or redemption prior to its fixed maturity date unless it contains such recital.

Legislative History

Added by Stats. 1954, 1st Ex. Sess., Ch. 2.

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California § 36404., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/WAT/36404..