California Law (Last Updated: March 4, 2014) |
Water Code - WAT |
Division 14. CALIFORNIA WATER STORAGE DISTRICT LAW |
Part 7. FINANCIAL ORGANIZATION |
Chapter 2. Warrants |
ARTICLE 2. Payment |
Section 44626.
Latest version.
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Whenever any warrant of the district is presented for payment when funds are not available for payment, it shall thereafter draw interest at a rate determined by resolution of the board, not to exceed 7 percent per year, until public notice is given that such funds are available.
(Added by Stats. 1951, Ch. 391.)