Section 52179 Of Article 4. Callable Bonds From California Water Code >> Division 15. >> Part 8. >> Chapter 1. >> Article 4.
52179
. In the event the bonds are callable at a premium, the board
shall draw a warrant or warrants in favor of the county treasurer
from time to time as bonds are called for redemption in an amount
equal to the amount of the premium required to be paid on the bonds
then called for redemption. Each such warrant shall be drawn against
funds derived from the additional or supplemental assessment required
to be levied pursuant to Section 51301.5. The amounts collected on
such additional or supplemental assessment shall be used by the
county treasurer for the payment of the premium on the bonds then
called for redemption and, to the extent of such payment, such
warrant shall be reduced or canceled by endorsement on the reverse
thereof.