If bonds have been voted but not sold, and the board expects to sell such bonds prior to the end of the ensuing fiscal year, there shall be included in the annual estimate an amount estimated to be sufficient to provide for the payment of all principal and interest of such unsold bonds which the board believes will come due during the ensuing fiscal year and also during that part of the following fiscal year before the proceeds of an assessment tax levied at the time for making the general tax levy in such following fiscal year can be made available for the payment thereof.

(Added by Stats. 1965, Ch. 75.)

Terms Used In California Water Code 75354

  • Ensuing fiscal year: means the fiscal year in which the board is required to furnish the annual estimate, as provided in this chapter. See California Water Code 75350
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Following fiscal year: means the fiscal year which next follows the ensuing fiscal year. See California Water Code 75350
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