Section 9516 Of Article 9. Refunding Bonds From California Water Code >> Division 5. >> Part 5. >> Chapter 6. >> Article 9.

. Refunding bonds shall be issued in such denominations as the board may determine except that no bonds shall be of a denomination of less than one hundred dollars ($100) nor of a greater denomination than one thousand dollars ($1,000), and shall be payable on the day fixed in the bonds with interest at the rate specified therein which interest shall be payable semiannually.