Code Section Group

Water Code - WAT

DIVISION 11. IRRIGATION DISTRICTS [20500 - 29978]

  ( Division 11 added by Stats. 1943, Ch. 372. )

PART 9. BONDS [24950 - 25402]

  ( Part 9 added by Stats. 1943, Ch. 372. )

CHAPTER 3. General Bond Provisions [25200 - 25354]

  ( Chapter 3 added by Stats. 1943, Ch. 372. )

ARTICLE 2. Payment Solely from Revenue [25240 - 25245]
  ( Article 2 added by Stats. 1943, Ch. 372. )

25240.
  

As used in this article and Article 3 of this chapter “revenue” means all or any part of any source or sources of payment excluding assessments but including the proceeds of any existing or proposed contract or contracts.

(Added by Stats. 1943, Ch. 372.)

25242.
  

If any or all of the principal of any bonds is made payable only from revenue, the board shall cause a brief statement of the limitations upon the payment of principal or portion thereof to be set forth in the bonds.

(Added by Stats. 1943, Ch. 372.)

25243.
  

If the limitations affect the payment of the interest of the bonds or any part thereof, a brief statement of the limitations shall be set forth in the interest coupons representing the interest and also in the bonds to which the interest coupons are appurtenant.

(Added by Stats. 1943, Ch. 372.)

25244.
  

If the limitations affect the payment of only a portion of the interest which will accrue on any bonds, the board may provide either that:

(a) The entire installment of interest payable on any interest payment date shall be represented by a single coupon which shall contain a brief statement as to the portion of interest subject to the limitations.

(b) The portion of interest not subject to the limitations and the portion of interest subject to the limitations shall be represented by separate interest coupons, the coupons representing the portion of the interest as to which limitations exist containing a brief statement of the limitations.

(Added by Stats. 1943, Ch. 372.)

25245.
  

If any board provides that the principal, interest, or both of any bonds or any portion of the principal, interest, or both shall be payable solely from designated revenue, neither the district nor any officer thereof shall be held for payment otherwise.

(Amended by Stats. 1991, Ch. 1226, Sec. 58.)

WATWater Code - WAT2.