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 5. Callable Bonds [25300 - 25304]
  ( Article 5 added by Stats. 1943, Ch. 372. )

25300.
  

A district may, by resolution of its board adopted at or prior to the time of issuing any bonds then proposed to be issued, provide for the call and redemption prior to their fixed maturity of any of the bonds.

(Amended by Stats. 1991, Ch. 1226, Sec. 60.)

25301.
  

Callable bonds may be redeemed in addition to other methods permitted in the following manner:

(a) In numerical order or by lot as prescribed in the resolution.

(b) On any interest payment date prior to their fixed maturity.

(c) At not exceeding their par value and accrued interest or on the terms provided in the resolution.

(Amended by Stats. 1943, Ch. 1054.)

25302.
  

Notice designating the bonds called for redemption shall be published once a week for three successive weeks in a newspaper of general circulation printed and published in the office county.

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

25303.
  

The first publication of the redemption notice shall be not less than 30 days nor more than 90 days prior to the date fixed for redemption.

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

25304.
  

If on the date fixed for redemption the district has provided funds available for the payment of the principal and interest of the bonds called, interest on them ceases.

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

WATWater Code - WAT5.