Code Section Group

Water Code - WAT

DIVISION 21. WATER CONSERVATION DISTRICTS [74000 - 76501]

  ( Division 21 added by Stats. 1965, Ch. 75. )

PART 6. FINANCIAL PROVISIONS [74750 - 74977]

  ( Part 6 added by Stats. 1965, Ch. 75. )

CHAPTER 3. Bonds [74790 - 74872]

  ( Chapter 3 added by Stats. 1965, Ch. 75. )

ARTICLE 1. In General [74790 - 74792]
  ( Article 1 added by Stats. 1965, Ch. 75. )

74790.
  

A district may incur a bonded indebtedness for any purpose for which the board is authorized to expend the funds of the district, including any works, property, or rights, contract or otherwise, acquired under or pursuant to the provisions of Chapter 5 (commencing with Section 74570) of Part 5 of this division, or the refunding of any obligations incurred pursuant to that chapter.

(Added by Stats. 1965, Ch. 75.)

74791.
  

Bonds issued by a district, and bonds issued for any improvement district therein, shall be payable, both principal and interest, from assessments upon the lands in the district or improvement district, as the case may be, unless proceedings have been taken substantially as provided in this division for such bonds to be payable from assessments levied upon all real property in the district or in the improvement district, as the case may be.

(Added by Stats. 1965, Ch. 75.)

74792.
  

Bonds of the district may be issued in the manner provided in this chapter payable, both principal and interest, from assessments levied upon all real property in the district in the manner provided in this division for the levy of assessments upon land only.

If the board determines that the bonds shall be payable from assessments upon all such real property, or if the proceedings for the formation of the district require that the bonds be so payable, the board shall so state in the resolution calling the bond election, and the notice of the election shall contain a statement to that effect. If the bonds receive the necessary two-thirds vote at the bond election, then they shall be payable from assessments upon all real property in the district, and such real property shall be subject to taxation for the payment of principal and interest of such bonds.

(Added by Stats. 1965, Ch. 75.)

WATWater Code - WAT1.