California Water Code

§ 52853

WAT § 52853Div. 15 · Part 8 · Ch. 5

Statute text

The county treasurer shall call such part of the principal of the assessment securing the refunding bonds, not exceeding the amount by which the unpaid principal amount of the assessment exceeds the principal amount of bonds secured thereby, as is necessary to restore the amount of depletion of the reserve fund caused by authorized payments therefrom.

Legislative history

Added by Stats. 1951, Ch. 336.