SECTIONS 60270-60282 - California Statutes

WATER CODE

SECTION 60270-60282

60270. Whenever the board deems it necessary for the district to
incur a bonded indebtedness, the board shall, by resolution, so
declare and state the purpose for which the proposed debt is to be
incurred, the amount of debt to be incurred, the maximum term the
bonds proposed to be issued shall run before maturity, which shall
not exceed 40 years; the maximum rate of interest to be paid, which
shall not exceed 8 percent per annum, and the measure to be submitted
to the voters.

60271. The board shall fix a date upon which an election shall be
held for the purpose of authorizing said bonded indebtedness to be
incurred.

60272. It shall be the duty of the board to provide for holding
such special election on the day so fixed and in accordance with the
provisions of the Elections Code so far as the same shall be
applicable, except as herein otherwise provided.

60273. Such board shall give notice of the holding of such
election, which notice shall contain the text of the resolution
adopted by the board of the district, the designation of precincts,
the location of polling places, and the names of the officers
selected to conduct the election, who shall consist of one judge, one
inspector and two clerks in each precinct.

60274. In case such election is consolidated with a state or county
election, the precincts, polling places, and election officers shall
be the same as provided for such state or county election, and it
shall be sufficient if the resolution and notice so state.

60275. The notice shall be published in such district pursuant to
Section 6066 of the Government Code in a newspaper or newspapers
designated by the board. If there is no newspaper published in such
district, then such notice shall be posted in three public places in
such district in each affected county. Publication or posting shall
be complete at least 14, but not more than 28, days prior to the date
of the election.

60276. All the expenses of holding such election shall be borne by
the district.

60277. The returns of such election shall be made, the votes
canvassed by said board within seven days following said election,
and the results thereof ascertained and declared in accordance with
the provisions of the Elections Code, so far as they may be
applicable, except as in this act otherwise provided.

60278. The secretary of the board, as soon as the result is
declared, shall enter in the records of such board a statement of
such results.

60279. No irregularities or informalities in conducting such
election shall invalidate the same, if the election shall have
otherwise been fairly conducted.

60280. Any action or proceeding, wherein the validity of any such
bonds or of the proceedings in relation thereto is contested,
questioned or denied, shall be commenced within three months from the
date of such election; otherwise, said bonds and all proceedings in
relation thereto shall be held to be valid and in every respect legal
and incontestable.

60281. If from such returns it appears that more than two-thirds of
the votes cast at such election held pursuant to the provisions of
this chapter were in favor of and assented to the incurring of such
indebtedness, then the board may, by resolution, at such time or
times as it deems proper, provide for the form and execution of such
bonds and for issuance of any part thereof, and may sell or dispose
of the bonds so issued at such times or in such manner, either for
cash in lawful money of the United States or its equivalent, as it
may deem to be to the public interest.

60282. Any bonds issued by any district are hereby given the same
force, value and use as bonds issued by any city and shall be exempt
from all taxation within the State of California.