SECTIONS 25240-25245 - California Statutes

WATER CODE

SECTION 25240-25245

25240. As used in this article and Article 3 of this chapter
"revenue" means all or any part of any source or sources of payment
excluding assessments but including the proceeds of any existing or
proposed contract or contracts.

25242. If any or all of the principal of any bonds is made payable
only from revenue, the board shall cause a brief statement of the
limitations upon the payment of principal or portion thereof to be
set forth in the bonds.

25243. If the limitations affect the payment of the interest of the
bonds or any part thereof, a brief statement of the limitations
shall be set forth in the interest coupons representing the interest
and also in the bonds to which the interest coupons are appurtenant.

25244. If the limitations affect the payment of only a portion of
the interest which will accrue on any bonds, the board may provide
either that:
(a) The entire installment of interest payable on any interest
payment date shall be represented by a single coupon which shall
contain a brief statement as to the portion of interest subject to
the limitations.
(b) The portion of interest not subject to the limitations and the
portion of interest subject to the limitations shall be represented
by separate interest coupons, the coupons representing the portion of
the interest as to which limitations exist containing a brief
statement of the limitations.

25245. If any board provides that the principal, interest, or both
of any bonds or any portion of the principal, interest, or both shall
be payable solely from designated revenue, neither the district nor
any officer thereof shall be held for payment otherwise.