Section 24506 Of Article 2. Payment And Purchase Of Bonds From California Water Code >> Division 11. >> Part 8. >> Chapter 3. >> Article 2.

. Whenever there is in any fund of the district money in excess of that required for the purposes of the fund up to the time when any part of the next annual assessment levied or to be levied in the district will become delinquent, the district may purchase with this surplus money or any part of it any of its outstanding bonds not yet due.