Section 43730 Of Article 3. Refunding Indebtedness From California Government Code >> Division 4. >> Title 4. >> Chapter 4. >> Article 3.
43730
. At the time of making the general tax levy after incurring
the bonded indebtedness and annually thereafter until the bonds are
paid or until there is a sum in the treasury set apart for that
purpose sufficient to meet all payments of principal and interest on
the bonds as they become due, the legislative body shall levy and
collect a tax sufficient to pay the interest on the bonds and such
part of the principal as will become due before the proceeds of the
next general tax levy will be available.