Section 29174 Of Article 2. Form And Terms Of General Obligation Bonds From California Public Utilities Code >> Division 10. >> Part 2. >> Chapter 8. >> Article 2.
29174
. The district may provide for redemption of bonds prior to
maturity, on such notice and at such time or times and with such
redemption provisions, including premiums, as the district may
determine, provided that no redemption premium shall be in excess of
6 percent of the principal amount of the bonds to be redeemed. No
bond is subject to call or redemption prior to its fixed maturity
date, unless the right to exercise such call and the redemption price
are expressly stated on the face of the bond. When bonds have been
validly called for redemption and payment of the principal thereof,
and the interest thereon accrued to the date of redemption, together
with the redemption premium, if any, shall have been made or provided
for, interest thereon shall cease.