SECTIONS 71991-71994 - California Statutes

WATER CODE

SECTION 71991-71994

71991. After the board has made its determination of the matters
required to be determined by the resolution of formation, and if the
board deems it necessary to incur the bonded indebtedness, the board
shall, by a further resolution, call a special election in the
revenue improvement district for the purpose of submitting to the
voters thereof the proposition of incurring indebtedness by the
issuance of revenue bonds of the district for the revenue improvement
district. The election shall be held and the votes canvassed
pursuant to law for municipal water district elections.

71992. The resolution calling the revenue bond election shall be
adopted, contain the statement, be published and provide for issuance
of the revenue bonds in accordance with Article 3 (commencing with
Section 54380 of the Government Code) of the Revenue Bond Law of
1941, except as otherwise required by law and this chapter, and, in
addition, the resolution shall state:
(a) That the board deems it necessary to incur the bonded
indebtedness.
(b) The revenue improvement district to be benefited by the bonded
indebtedness, as set forth in the resolution of formation of the
revenue improvement district, and that a map showing the exterior
boundaries of the revenue improvement district is on file with the
secretary, which map shall govern for all details as to the extent of
the revenue improvement district.
(c) That the votes of a majority of all voters voting on the
proposition are required to authorize the issuance of the revenue
bond.

71993. If the issuance of the revenue bonds is authorized at the
election, the board shall provide for their issuance, sale,
authentication, form and redemption in the manner provided in the
Revenue Bond Law of 1941.

71994. It is the intent of the Legislature that the provisions of
this article shall be in addition to, and not exclusive of, the
powers and duties of the revenue improvement district as a local
agency under the Revenue Bond Law of 1941, except that where this
chapter is inconsistent with the Revenue Bond Law of 1941, the
Revenue Bond Law of 1941 is controlling. The municipal water district
may do any act for or on behalf of the revenue improvement district
authorized by law and the Revenue Bond Law of 1941 not inconsistent
with the provisions of this chapter or in derogation of the security
of the bondholders.