Cal. Public Resources Code § 5790
Cal. Public Resources Code § 5790
California · California Public Resources Code · Status: effective · Effective 2002-01-01
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- Citation
- Cal. Public Resources Code § 5790, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/900896
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Full text
(a) Whenever a board of directors determines that it is necessary to incur a general obligation bonded indebtedness for the acquisition or improvement of real property or for funding or refunding of any outstanding indebtedness, the board of directors shall adopt a resolution making determinations and calling an election on a proposition to incur indebtedness.
(b) The amount of the bonds to be issued shall not exceed the amount specified in the resolution calling the election.
(c) A district shall not incur bonded indebtedness that exceeds 10 percent of the assessed value of all taxable property in the district at the time the bonds are issued.