Section 29121 Of Article 1. Property Taxation From California Public Utilities Code >> Division 10. >> Part 2. >> Chapter 7. >> Article 1.
29121
. The board shall, at the time of fixing the general tax levy
and in the manner provided for the general tax levy, levy and collect
annually until the general obligation bonds of the district are
paid, or until there is a sum in the treasury of the district set
apart for that purpose to meet all sums coming due for principal and
interest on the bonds as they become due and payable, a tax
sufficient to pay the annual interest on the bonds and such part of
the principal thereof, including any sinking fund installments
required by any of the district's agreements with its bondholders, as
becomes due before the proceeds of a tax levied at the next general
tax levy will be available for such purposes.