California · Harbors and Navigation Code - HNC

HNC §7171: A district may issue warrants payable in not to exceed two years from their date, to pay the formation expenses of the district, which warrants may bear interest at a rate of not exceeding 6 percent p

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What this law says, in plain English

A district may issue warrants payable within two years to cover formation expenses, with interest not exceeding 6 percent annually.

Read the full statutory text

A district may issue warrants payable in not to exceed two years from their date, to pay the formation expenses of the district, which warrants may bear interest at a rate of not exceeding 6 percent per annum from date of issue until paid, which formation expenses may include fees of attorneys and others employed to conduct formation proceedings.

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