ARTICLE 2. Refunding Bond Sinking Fund [25060. - 25068.]

Cal. Water Code - WAT 2.
in effect

Cal. Water Code - WAT § 25060. Section 25060.

If any issue of refunding bonds are made to mature at one time, the board prior to or at the time of their issuance shall provide for the creation of and payments into a sinking fund for the payment of the bonds in amounts determined by the board.

Cal. Water Code - WAT § 25062. Section 25062.

Whenever the sinking fund contains at least ten thousand dollars ($10,000), the board may publish notice of redemption at least once a week for three successive weeks in some newspaper published in the office county and may publish it in any other newspaper.

Cal. Water Code - WAT § 25063. Section 25063.

The notice shall set forth all of the following: (a) The amount available for the redemption of the bonds. (b) An invitation for sealed proposals for the sale to the district of any of its outstanding refunding bonds for the payment of which the sinking fund was created. (c) The time and place when the proposals will be opened.

Cal. Water Code - WAT § 25064. Section 25064.

All proposals received in response to the notice shall be opened by the board in open meeting at the time specified in the notice or at a time to which the meeting is adjourned.

Cal. Water Code - WAT § 25066. Section 25066.

If no bids are received or if the bids received and accepted are not sufficient to exhaust the money on hand and available for the purpose, the district through its board may purchase at private sale with any available money in the sinking fund any bonds for the payment of which the sinking fund was created.

Cal. Water Code - WAT § 25067. Section 25067.

No proposal to sell bonds to the district pursuant to this article at a price in excess of their par value shall be accepted.
Source: CA Legislative Counsel Bulk DataURL: https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zipFetched: 6/27/2026

Starting a business in California? California LLC guide: costs and requirements