2007 California Water Code Article 5. Assessments

CA Codes (wat:22950)

22950.  Every district by its board, each year within 15 days after
the close of its session as a board of equalization, shall levy an
assessment sufficient to raise all of the following:
   (a) Annual interest on any outstanding bonds of the district
except to the extent that provision is otherwise made as permitted by
law.
   (b) Principal of outstanding bonds of the district as they mature
except to the extent that provision is otherwise made as permitted by
law.
   (c) Obligations of the district due or to become due within the
succeeding 12 months except to the extent that provision is otherwise
made as permitted by law.
   (d) A sum which with the other revenue of the district will meet
the estimated current expenses of the district for the succeeding 12
months.