ARTICLE 2. Improvement District Warrants [23975. - 23981.]

Cal. Water Code - WAT 2.
in effect

Cal. Water Code - WAT § 23975. Section 23975.

A district may issue improvement district warrants signed by its president and secretary in face amount not exceeding in the aggregate the cost of the improvements exclusive of interest and amounts paid prior to the issuance of these warrants on the assessment levied to pay for the improvement.

Cal. Water Code - WAT § 23976. Section 23976.

Improvement district warrants shall be made payable in amounts and at the times corresponding substantially to the amounts and times of payment of the installments of the improvement district assessment.

Cal. Water Code - WAT § 23977. Section 23977.

Improvement district warrants shall bear interest at the rate fixed at the time of the levy of the improvement district assessment, and the interest may be made payable semiannually.

Cal. Water Code - WAT § 23979. Section 23979.

Improvement district warrants may be made payable to any of the following: (a) Bearer. (b) Persons furnishing work, labor, or material. (c) The contractor if the work of improvement is to be done under contract.

Cal. Water Code - WAT § 23980. Section 23980.

Improvement district warrants may be sold by the district for not less than par at either public or private sale.

Cal. Water Code - WAT § 23981. Section 23981.

Any surplus funds and any money held by a district in a sinking or depreciation fund may in the discretion of its board be invested in the warrants of any improvement district within the district.
Source: CA Legislative Counsel Bulk DataURL: https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zipFetched: 6/27/2026

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