SECTIONS 44055-44059 - California Statutes

WATER CODE

SECTION 44055-44059

44055. In case any contract is made with the United States, bonds
of the district may be transferred to or deposited with the United
States if so provided by the contract, at not less than their par
value, to the amount, or any part thereof, to be paid by the district
to the United States. The interest or principal, or both, of the
bonds may be regularly paid to the United States and applied as
provided in the contract.

44056. The bonds may:
(a) Call for the payment of interest not exceeding 6 percent per
year.
(b) Be of the denomination specified in the contract.
(c) Call for the repayment of the principal at such times as
specified in the contract.

44057. The contract with the United States may call for the payment
of the amount, or any part thereof, to be paid by the district to
the United States at specified times, in installments, and with
interest not exceeding 6 percent per year.

44058. The board may accept, on behalf of the district, appointment
of the district as fiscal agent of the United States or
authorization of the district by the United States to make collection
of money for and on behalf of the United States and to assume the
duties and liabilities incident to such action.

44059. The board as fiscal agent of the United States may do any
and all things required by the federal statutes now or hereafter
enacted in connection therewith and all things required by any rules
or regulations now or hereafter established under any such federal
statutes.