Section 51502 Of Article 1. General Provisions From California Water Code >> Division 15. >> Part 7. >> Chapter 3. >> Article 1.
51502
. At least 90 days before any installment of interest is due
on any time warrants the board shall estimate the amount necessary to
pay the interest, after crediting thereon the funds in the "warrant
interest fund" applicable to the payment thereof, and shall add
thereto 15 percent of the aggregate sum to cover possible
delinquencies, and make a call on interest due on any unpaid unbonded
assessment equivalent to the amount so estimated.