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2019 California Code
Water Code - WAT
DIVISION 11 - IRRIGATION DISTRICTS
PART 9 - BONDS
CHAPTER 3 - General Bond Provisions
ARTICLE 1 - Bond Terms
Section 25208.1.
Universal Citation: CA Water Code § 25208.1 (2019)
25208.1.
Notwithstanding the provisions of Section 25208 of the Water Code and any other provisions of law, the Board of Directors of the Solano Irrigation District may determine and provide, in any resolution providing for the issuance of bonds pursuant to this division, for the bonds to bear interest at a rate or rates not exceeding 18 percent a year if, before the issuance of the bonds, the board determines, to the best of its knowledge and belief, that the interest on the bonds will be subject to federal income taxation under then existing law.
(Added by Stats. 1981, Ch. 216, Sec. 1. Effective July 19, 1981.)
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