There is a newer version of the California Code
2011 California Code
Water Code
DIVISION 15. RECLAMATION DISTRICTS [50000 - 53901]
CHAPTER 5. Creation of Reserve Fund Pursuant to Agreement With the United States
Section 52856
CA Water Code § 52856 (through 2012 Leg Sess) What's This?
No call for the purpose of creating a reserve fund shall be made until the United States, or department or agency thereof, has accepted 50 percent or more of the refunding bonds proposed to be issued under the plan.
(Added by Stats. 1951, Ch. 336.)
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