Terms Used In California Water Code 8034

• city: means any city, town, or municipal corporation incorporated under the laws of this State. See California Water Code 8002
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}