California Water Code CHAPTER 5 - Creation of Reserve Fund Pursuant to Agreement With the United States

• Section 52850.
  When there is an agreement between a district and the United States of America, or any department or agency thereof, which provides for the issuance...
• Section 52851.
  The money in the reserve fund shall be used to pay the installments of principal and interest of any outstanding bonds secured by the assessment...
• Section 52852.
  If the bond fund contains a sum derived from an assessment securing the bonds to be refunded pursuant to the agreement which is in excess...
• Section 52853.
  The county treasurer shall call such part of the principal of the assessment securing the refunding bonds, not exceeding the amount by which the unpaid...
• Section 52854.
  The call shall be made at the time prescribed by Section 51420 for making the next call for the payment of principal or interest of...
• Section 52855.
  The board may direct that the restoration of the reserve fund be effected over a period not exceeding three years next after the reserve fund...
• Section 52856.
  No call for the purpose of creating a reserve fund shall be made until the United States, or department or agency thereof, has accepted 50...
• Section 52857.
  The county treasurer may invest any money in the reserve fund in bonds of the United States or of the State of California, and bonds...
• Section 52858.
  Sales of bonds of the United States or of the State of California purchased with reserve fund money shall be made by the county treasurer...
• Section 52859.
  The board of a district which has entered into an agreement pursuant to Section 52850, may, by resolution, direct that any money on deposit in...
• Section 52860.
  The county treasurer shall forthwith cancel all bonds purchased pursuant to subsection (a) of Section 52859.(Added by Stats. 1951, Ch. 336.)
• Section 52861.
  No purchase of bonds shall be made pursuant to subdivision (a) of Section 52859 unless the unpaid principal amount of the assessment securing such bonds...
• Section 52862.
  No funds deposited pursuant to subdivision (b) of Section 52859 may be withdrawn except to pay the principal or interests upon any bonds of the...

Last modified: October 22, 2018