California Law (Last Updated: March 4, 2014) |
Water Code - WAT |
Division 15. RECLAMATION DISTRICTS |
Part 7. ASSESSMENTS |
Chapter 3. Payment and Collection |
ARTICLE 3. Operation and Maintenance Assessments |
Section 51547.
Latest version.
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When time warrants have been issued in anticipation of an operation and maintenance assessment levy, money collected upon that levy shall be used only for the payment of the principal and interest on the time warrants so long as such time warrants are outstanding and unpaid.
(Added by Stats. 1951, Ch. 336.)