There is a newer version of the California Code
2011 California Code
Water Code
DIVISION 14. CALIFORNIA WATER STORAGE DISTRICT LAW [39000 - 48401]
CHAPTER 4. Warrants Payable at Future Times
Section 44907
CA Water Code § 44907 (through 2012 Leg Sess) What's This?
Warrants of any district may be issued to evidence the indebtedness allowed to be incurred prior to the levy of the first district assessment, bearing interest fixed by the board at not more than 7 percent per year. These warrants shall be made payable on a date not later than the first day of July next after the first annual assessment in the district is levied.
(Added by Stats. 1961, Ch. 1367.)
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