California Statutes
§ 55550. — 55550. (Added by Stats. 1953, Ch. 155.)
California·Code WAT Water Code - WAT·Div. 16. DIVISION 16. COUNTY WATERWORKS DISTRICTS·Part 4. PART 4. FINANCIAL PROVISIONS·Ch. 2. CHAPTER 2. Bonds·Art. 2. ARTICLE 2. Additional Bond Issues
Whenever the board deems it necessary for the district to incur a bonded indebtedness in addition to that incurred at the time of the formation of the district for any of the purposes of the district, the board shall, by resolution, so declare and state the proposition to be submitted to the electors, the purpose for which the proposed debt is to be incurred, the amount of the debt to be incurred, the maximum term the bonds proposed to be issued shall run before maturity, which shall not exceed 40 years, and the maximum rate of interest to be paid, which shall not exceed 8 percent per year, payable semiannually.
Free access — add to your briefcase to read the full text and ask questions with AI
California § 55550. (55550. (Added by Stats. 1953, Ch. 155.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 1953, Ch. 155.