{"code":"WAT","codeName":"Water Code","section":"55522","citation":"Wat. Code, § 55522","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 16. COUNTY WATERWORKS DISTRICTS [55000. - 55991.]","url":"https://blackletter.si/water-code/division-16"},{"name":"PART 4. FINANCIAL PROVISIONS [55500. - 55720.]","url":"https://blackletter.si/water-code/division-16/part-4"},{"name":"CHAPTER 2. Bonds [55520. - 55679.]","url":"https://blackletter.si/water-code/division-16/part-4/chapter-2"},{"name":"ARTICLE 1. Issuance and Sale [55520. - 55534.]","url":"https://blackletter.si/water-code/division-16/part-4/chapter-2/article-1"}],"history":"Amended by Stats. 1959, Ch. 69.","effective":null,"html":"<p>The board shall designate an amount, not less than one-fortieth of the principal amount of the indebtedness, or series thereof, which shall be paid annually at a fixed time and place, together with the interest on all sums unpaid. The rate of interest shall be designated in the bonds and shall be paid semiannually at a rate not in excess of 8 percent per year; except that interest for the first year after the date of the bonds may be made payable at the end of said year.</p>","text":"The board shall designate an amount, not less than one-fortieth of the principal amount of the indebtedness, or series thereof, which shall be paid annually at a fixed time and place, together with the interest on all sums unpaid. The rate of interest shall be designated in the bonds and shall be paid semiannually at a rate not in excess of 8 percent per year; except that interest for the first year after the date of the bonds may be made payable at the end of said year.","otherVersions":[],"url":"https://blackletter.si/water-code/issuance-and-sale-55522","source":"California Legislative Information bulk export (pubinfo)"}