Water Code section 31651

If the maturity of the indebtedness created by an issue of bonds begins more than one year after the date of issuance, a tax shall be levied and collected pursuant to this part annually sufficient to pay the interest on the indebtedness as it falls due and also to constitute a sinking fund for the payment of the principal of the bonds on or before maturity.

Source: Section 31651, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=WAT§ionNum=31651.­ (updated Jan. 1, 1949; accessed Jul. 21, 2025).

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Verified:
Jul. 21, 2025

§ 31651's source at ca​.gov