Code Section Group

Water Code - WAT

DIVISION 11. IRRIGATION DISTRICTS [20500 - 29978]

  ( Division 11 added by Stats. 1943, Ch. 372. )

PART 5. POWERS AND PURPOSES [22075 - 22982]

  ( Part 5 added by Stats. 1943, Ch. 372. )

CHAPTER 5. Provisions Pertaining Only to 500,000-Acre Districts [22825 - 22970.35]

  ( Chapter 5 added by Stats. 1943, Ch. 372. )

ARTICLE 6. Miscellaneous Provisions [22960 - 22961]
  ( Article 6 added by Stats. 1943, Ch. 686. )

22960.
  

Every district by its board may, in addition to other powers, borrow funds for any lawful purpose at an interest rate not exceeding 5 per cent per year and issue warrants therefor payable at future dates. No election authorizing such borrowing or issuance of warrants need be held but the principal amount of such indebtedness unpaid at any time shall not exceed two hundred thousand dollars ($200,000).

(Added by Stats. 1943, Ch. 686.)

22961.
  

A reserve fund from assessments or other revenues for emergencies, replacements or other lawful purpose of the district may be provided by the board.

(Added by Stats. 1943, Ch. 686.)

WATWater Code - WAT6