Wat. Code, § 13427 · Article 2.5. Guarantees for Local Agency Bonds
Wat. Code, § 13427
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
No guarantee shall be extended to any applicant unless it executes an agreement with the state board under which the applicant agrees to the following provisions:
(a) To proceed expeditiously with, and complete, the proposed project.
(b) To commence operation of the project on completion, and to properly operate and maintain the work in accordance with applicable provisions of law.
(c) To issue bonds and to levy fines, charges, assessments, or taxes to pay the principal of, and interest on, the bonds as described in the application.
(d) To diligently and expeditiously collect those levies, including timely exercise of available legal remedies in the event of delinquency or default.
(e) To act in accordance with such other provisions as the state board may require.
Notes and commentary — not statutory text
History
Added by Stats. 1988, Ch. 47, Sec. 1. Effective March 18, 1988.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=WAT§ionNum=13427.
- Text hash
- sha256 e9c3a469489295beae3c145a35c2fe246e73c4a5ea7c1e95437760e172d76327
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.