SECTIONS 23260-23264 - California Statutes

WATER CODE

SECTION 23260-23264

23260. When the United States is authorized to construct works for
the benefit of any district and the district is obligated to repay
the construction cost in whole or in part to the United States, the
district may by resolution of its board enter into a contract with
the United States for the construction of the works or may submit
bids for the construction of the works the same as any other person
may submit bids for the construction of the works.

23261. If a district is the successful bidder for the construction
of the works or any part of them, the district may execute at its
expense a bond for the faithful performance of the work and do any
and all things required by the United States as would be required of
any other successful bidder.

23262. A district upon the execution with the United States of a
contract for the construction of works by the district shall proceed
with the work in the same manner and under the same laws and rules
and regulations as would apply to the district in the construction of
any works which it is authorized to construct.

23263. For the purpose of providing the necessary money to carry on
the construction work the district may borrow money for a term not
exceeding five years at rates of interest, to be fixed by its board,
not exceeding 7 per cent per year and issue notes, warrants, or other
evidences of indebtedness therefor. The aggregate amount of the
indebtedness shall at no time exceed one-half of the total
construction cost as provided in the construction contract.

23264. Any money received by a district from the United States
under the contract shall first be applied to the retirement of notes,
warrants, or other evidences of indebtedness issued pursuant to this
article.