Cal. Harbors and Navigation Code § 7202
Cal. Harbors and Navigation Code § 7202
California · California Harbors and Navigation Code · Status: effective
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- Citation
- Cal. Harbors and Navigation Code § 7202, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/856498
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The total aggregate amount of said notes outstanding at any one time shall not exceed a limit of 2 percent of the assessed valuation of the taxable property in the district or, if the assessed valution is not obtainable, 2 percent of the county auditor’s estimate of the taxable property in the district evidenced by his certificate, provided:
(a) A district which has been formed for less than 18 months may exceed said limit and in the event may borrow an aggregate amount of not to exceed thirty-five thousand dollars ($35,000).
(b) No district shall borrow more than an aggregate amount of one hundred fifty thousand dollars ($150,000).