SECTIONS 71980-71985 - California Statutes

WATER CODE

SECTION 71980-71985

71980. Whenever the board deems it necessary to incur a bonded
indebtedness for the acquisition, construction, completion, or repair
of any or all improvements, works or property mentioned in this
division, and to provide for such bonded indebtedness payable
exclusively from the revenues of an enterprise acquired, constructed,
improved or financed for the benefit of an area less than all of the
district, the board shall, by resolution, declare its intention to
form a revenue improvement district and to incur such indebtedness.

71981. The resolution of intention shall state that the board
intends to form a revenue improvement district of a portion of the
district which in the opinion of the board will be benefited, and to
call an election in such proposed revenue improvement district, on a
date to be fixed, for the purpose of submitting to the voters thereof
the proposition of incurring indebtedness by the issuance of revenue
bonds of the district for such revenue improvement district.

71982. The resolution of intention shall also state:
(a) The purpose for which the proposed debt is to be incurred and
a general description of the enterprise.
(b) The estimated amount of debt to be incurred, which may include
expenses of all proceedings for the authorization, issuance, and
sale of the bonds.
(c) That the bonds are to be revenue bonds, and shall be payable
exclusively from the revenues of the enterprise within such revenue
improvement district and that the bonds are not to be secured by the
taxing power of the district.

71983. The resolution of intention shall also state that a general
description of the proposed enterprise, together with a map showing
the exterior boundaries of the proposed revenue improvement district
with relation to the territory immediately contiguous thereto and to
the proposed enterprise is on file with the secretary and is
available for inspection by any person or persons interested. This
map shall govern for all details as to the extent of the proposed
revenue improvement district.

71984. The resolution of intention shall also state:
(a) The time and place for a hearing by the board on the questions
of the formation and extent of the proposed revenue improvement
district and the proposed enterprise.
(b) That at the time and place specified in the resolution any
person interested including all persons owning property in the
district or in the proposed revenue improvement district, will be
heard.

71985. Notice of the hearing shall be given by publishing a copy of
the resolution of intention pursuant to Section 6066 of the
Government Code prior to the time fixed for the hearing in a
newspaper printed and published in the district, if there is a
newspaper printed and published in the district. Such notice shall
also be given by posting a copy of the resolution of intention in six
public places within the proposed revenue improvement district at
least two weeks before the time fixed for the hearing.