Cal. Water Code - WAT § 25200. Section 25200.
As used in this chapter “bonds” includes both construction and refunding bonds except as otherwise expressly provided.
ARTICLE 1. Bond Terms [25200. - 25219.]
Cal. Water Code - WAT 1.
in effectCal. Water Code - WAT § 25201. Section 25201.
Subject to the provisions of this article the board shall prescribe the form of the bonds issued by the district and of the attached interest coupons.
Cal. Water Code - WAT § 25202. Section 25202.
An issue of bonds means all of the bonds issued in accordance with a single proposal approved at an election.
Cal. Water Code - WAT § 25203. Section 25203.
Each issue of bonds shall be numbered consecutively as authorized, and the bonds of each issue shall be numbered consecutively.
Cal. Water Code - WAT § 25204. Section 25204.
The board shall fix the date of each issue of bonds and may divide any issue into two or more divisions and fix different dates for the bonds of each respective division.
Cal. Water Code - WAT § 25205. Section 25205.
The date of any bond shall be subsequent to the date of the election at which its issuance was authorized and prior to that of its delivery to a purchaser from the district.
Cal. Water Code - WAT § 25206. Section 25206.
The date of issue of any bond shall be deemed to be the date of the bond appearing on its face.
Cal. Water Code - WAT § 25207. Section 25207.
The board shall fix the denomination or denominations of the bonds.
Cal. Water Code - WAT § 25208. Section 25208.
The bonds shall bear interest at a rate not to exceed 8 percent per year to be fixed by the board, except that, 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, the bonds may bear interest at a rate or rates not exceeding 10 percent per year to be fixed by the board.
This section shall become operative on January 1, 1984.
Cal. Water Code - WAT § 25208.1. Section 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.
Cal. Water Code - WAT § 25209. Section 25209.
The interest shall be payable on the first day of January and the first day of July of each year.
Cal. Water Code - WAT § 25209.1. Section 25209.1.
In the case of any district described in Section 20560.2, notwithstanding any other provision of this division, the interest on any bonds of the district payable solely from revenue issued for purposes of financing works of the district for the generation, transmission, distribution, or sale of electric power shall be payable at least semiannually on the dates designated by the board.
Cal. Water Code - WAT § 25210. Section 25210.
The board shall designate the places at which the bonds and the interest thereon shall be payable.
Cal. Water Code - WAT § 25211. Section 25211.
The bonds shall be payable in lawful money of the United States.
Cal. Water Code - WAT § 25212. Section 25212.
Each bond shall be made payable at a given time for its full face value and not for a percentage thereof.
Cal. Water Code - WAT § 25213. Section 25213.
The principal on bonds shall be payable on the first day of January or the first day of July of the years designated by the board.
Cal. Water Code - WAT § 25213.1. Section 25213.1.
In the case of any district described in Section 20560.2, notwithstanding any other provision of this division, each principal payment, other than payments of principal upon optional redemption, on any bonds of the district payable solely from revenue issued for purposes of financing works of the district for the generation, transmission, distribution, or sale of electric power shall be payable on one of the dates designated by the board pursuant to Section 25209.1 for payment of interest on the bonds.
Cal. Water Code - WAT § 25214. Section 25214.
In no case shall the maturity of any bond be more than 50 years from its date.
Cal. Water Code - WAT § 25215. Section 25215.
When bonds are made callable, a statement to that effect shall be set forth on the face of the bond.
Cal. Water Code - WAT § 25216. Section 25216.
Each bond shall be signed by the president and secretary then in office at any time between the date of the bond and its delivery to a purchaser from the district.
Cal. Water Code - WAT § 25217. Section 25217.
The seal of the district shall be impressed on each bond.
Cal. Water Code - WAT § 25218. Section 25218.
The interest coupons shall be signed by the secretary then in office at any time between the date of the bond and its delivery to a purchaser from the district. The signature of the secretary may be made by facsimile.
Cal. Water Code - WAT § 25219. Section 25219.
Unless otherwise provided in the proceedings for the issuance of the bonds, they and the interest on them shall be paid from money derived from an annual assessment upon land or charges which in the discretion of the board are fixed and collected in lieu thereof and all land shall be and remain liable to be assessed for these payments.
Source: CA Legislative Counsel Bulk DataURL: https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zipFetched: 6/27/2026