Section 9455 Of Article 5. Payment Of Principal, Interest And Redemption From California Water Code >> Division 5. >> Part 5. >> Chapter 6. >> Article 5.

. The principal of the bonds shall, by an order of the board entered in its minutes, be made payable on the first day of July or the first day of January and in such years as the board may prescribe, but all of the bonds shall be payable serially within 20 years from their date.