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2011 California Code
Water Code
DIVISION 14. CALIFORNIA WATER STORAGE DISTRICT LAW [39000 - 48401]
CHAPTER 4. Warrants Payable at Future Times
Section 44903
CA Water Code § 44903 (through 2012 Leg Sess) What's This?
Warrants payable at a future time or times may be issued in consideration of money loaned to the district for the purchase of any of its outstanding bonds or the refinancing or retiring of any outstanding contract. The annual interest payable on these warrants shall be less than the annual interest on the bonds purchased or contract refinanced or retired with the proceeds of the warrants.
(Added by Stats. 1961, Ch. 1367.)
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