California Water Code

§ 31425

WAT § 31425Div. 12 · Part 6 · Ch. 2 · Art. 4

Statute text

If from the bond election returns it appears that more than two-thirds of the votes cast at the election are in favor of incurring the indebtedness, the board may, by resolution, at the time or times it deems proper, provide for the following:

(a)The form of the bonds.

(b)The execution of the bonds. The board may divide the aggregate principal amount of any issue of bonds authorized in accordance with a proposal submitted to and approved by the eligible voters of the district into two or more series and may fix different dates for the bonds of each series. The bonds of any one series may be made payable at different times from those of any other series, provided that the maturity of each series shall comply with this division.

Legislative history

Amended by Stats. 1974, Ch. 357.