California · Water Code
WAT §11752: Successive issues of bonds shall have equal preference with respect to the redemption thereof and the payment of interest thereon, but the department may fix different maturity dates serially or other
What this law says, in plain English
Successive bond issues have equal priority for redemption and interest payment, though the department may set different maturity dates.
Read the full statutory text
Successive issues of bonds shall have equal preference with respect to the redemption thereof and the payment of interest thereon, but the department may fix different maturity dates serially or otherwise for successive issues.
Verify at the official source: California legislative text
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