California Streets and Highways Code

§ 27220

SHC § 27220Div. 16 · Part 3 · Ch. 12

Statute text

Whenever the board deems it necessary for the district to incur a bonded indebtedness it shall, by resolution so declare. The resolution shall contain:

(a)A statement of the proposition to be submitted to the electors, including the purpose for which the proposed debt is to be incurred.

(b)The amount of debt to be incurred, which shall not exceed 15 per cent of the assessed value of all taxable property in the district.

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Legislative history

Added by Stats. 1943, Ch. 286.