Code Section Group

Water Code - WAT

DIVISION 6. CONSERVATION, DEVELOPMENT, AND UTILIZATION OF STATE WATER RESOURCES [10000 - 12999]

  ( Heading of Division 6 amended by Stats. 1957, Ch. 1932. )

PART 3. CENTRAL VALLEY PROJECT [11100 - 11985]

  ( Part 3 added by Stats. 1943, Ch. 370. )

CHAPTER 9. Finances [11800 - 11855]

  ( Chapter 9 added by Stats. 1943, Ch. 370. )

ARTICLE 4. Reserve Funds [11830 - 11832]
  ( Article 4 added by Stats. 1943, Ch. 370. )

11830.
  

The proceedings authorizing the issuance of bonds may provide for the setting up of a reserve fund or funds out of the revenues not needed for the payment of operation, maintenance, and replacements, and not needed for the payment of principal and interest as they currently mature, and may provide for the preservation and continuance of such reserve fund or funds in the manner provided in the proceedings.

(Added by Stats. 1943, Ch. 370.)

11831.
  

Any proceedings authorizing the issuance of bonds and providing for the setting up of a reserve fund may also require the immediate application of all surplus money in the revenue fund to the retirement of such bonds prior to maturity, by call or purchase, in such manner and upon such terms and the payment of such premiums as may be deemed advisable in the judgment of the department.

(Amended by Stats. 1957, Ch. 1932.)

11832.
  

The money remaining in the revenue fund after providing the amount required for interest and redemption of bonds as provided in this article shall be held and applied as provided in the proceedings authorizing the issuance of the bonds.

(Added by Stats. 1943, Ch. 370.)

WATWater Code - WAT4