The board may issue and sell the bonds of the district at not less than par value, and the proceeds shall be placed in the treasury of the county.

All premiums and accrued interest received shall be paid into the fund to be used for the payment of principal and interest on the bonds and the remainder of the proceeds of the sale shall be paid into the construction fund of the district, and proper records of the transactions shall be placed upon the books of the treasurer.

Terms Used In California Health and Safety Code 4792

  • County: includes city and county. See California Health and Safety Code 14
  • District: as used in this chapter , means any county sanitation district formed pursuant to this chapter or pursuant to any law which it supersedes. See California Health and Safety Code 4701
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.

(Enacted by Stats. 1939, Ch. 60.)

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