Water Code - WAT
DIVISION 12. COUNTY WATER DISTRICTS [30000 - 33901]
( Division 12 added by Stats. 1949, Ch. 274. ) PART 7. TAXES [31650 - 31822]
( Part 7 added by Stats. 1949, Ch. 274. ) CHAPTER 1. General Provisions [31650 - 31680]
( Chapter 1 added by Stats. 1949, Ch. 274. ) ARTICLE 1. In General [31650 - 31653]
( Article 1 added by Stats. 1949, Ch. 274. ) 31651.
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.
(Added by Stats. 1949, Ch. 274.)