SECTIONS 25300-25304 - California Statutes

WATER CODE

SECTION 25300-25304

25300. A district may, by resolution of its board adopted at or
prior to the time of issuing any bonds then proposed to be issued,
provide for the call and redemption prior to their fixed maturity of
any of the bonds.

25301. Callable bonds may be redeemed in addition to other methods
permitted in the following manner:
(a) In numerical order or by lot as prescribed in the resolution.
(b) On any interest payment date prior to their fixed maturity.
(c) At not exceeding their par value and accrued interest or on
the terms provided in the resolution.

25302. Notice designating the bonds called for redemption shall be
published once a week for three successive weeks in a newspaper of
general circulation printed and published in the office county.

25303. The first publication of the redemption notice shall be not
less than 30 days nor more than 90 days prior to the date fixed for
redemption.

25304. If on the date fixed for redemption the district has
provided funds available for the payment of the principal and
interest of the bonds called, interest on them ceases.