SECTIONS 11700-11701 - California Statutes

WATER CODE

SECTION 11700-11701

11700. For the purpose of providing money and funds to pay the cost
and expense of carrying out any of the objects and purposes of this
part, the department may, from time to time, issue bonds. As used in
this chapter, "bonds" means revenue bonds, notes, refunding bonds,
refunding notes, bond anticipation notes, certificates of
indebtedness, and other evidences of indebtedness payable from the
sources provided in this chapter.

11701. Whenever the department determines that it is necessary to
carry out any of the objects and purposes of this part, it shall
prepare preliminary cost estimates, an estimate of the amount
required to be raised for those purposes by the issuance of bonds,
and a statement of the probable amount of money, property, materials,
or labor, if any, to be contributed from other sources in aid
thereof, and shall adopt a resolution declaring that the public
interest and necessity require the carrying out of those objects and
purposes and authorizing the issuance of bonds for the purpose of
obtaining funds in an amount not in excess of that estimated to be
required for those purposes.