Section 31651 Of Article 1. In General From California Water Code >> Division 12. >> Part 7. >> Chapter 1. >> Article 1.

. If the maturity of the indebtedness created by an issue of bonds begins more than one year after the date of issuance, a tax shall be levied and collected pursuant to this part annually sufficient to pay the interest on the indebtedness as it falls due and also to constitute a sinking fund for the payment of the principal of the bonds on or before maturity.