SECTIONS 55700-55704 - California Statutes

WATER CODE

SECTION 55700-55704

55700. The board of supervisors may in any year levy a tax upon the
taxable property in the district, sufficient to pay the cost and
expenses of maintaining, operating, extending and repairing the
waterworks of the district for the ensuing fiscal year.

55701. The board of supervisors shall levy a tax, each year, upon
the taxable property in the district, sufficient to pay the interest
on the bonds for that year authorized at the time of formation of the
district, and that portion of the principal which is to become due
before the time for making the next general tax levy.

55702. Where the petition for formation contained a statement that
taxes shall be levied only upon the land within the district, all
taxes levied under the provisions of this division in a district
shall be levied upon the land within the district, and in any
extension or additions thereto, and upon no other property.

55703. If the maturity of the indebtedness created by the issue of
the bonds is made to begin more than one year after the date of
issue, the tax shall be levied and collected each year, sufficient to
pay the interest on the indebtedness as it falls due, and also to
constitute a sinking fund for the payment of the principal on or
before maturity.

55704. All taxes pursuant to this chapter shall be levied and
collected at the time and in the same manner as the general tax levy
for county purposes, and when collected shall be paid into the county
treasury to be used for the payment of the principal and interest on
bonds, or paid into the county treasury to the credit of the proper
fund of the district.