SECTIONS 74630 - California Statutes

WATER CODE

SECTION 74630

74630. If a district undertakes to execute a contract pursuant to
this chapter, no part of the annual payments for the obligations
assumed therein, as principal or guarantor, or the interest thereon,
or the costs of maintenance and operation of the works so acquired or
constructed, over and above the amounts available therefor from
revenues, that is in excess of the limitations on assessment taxes
provided in Sections 75357 and 75358, shall be levied until such
contract has been approved by the voters of the district, or of the
improvement district, for which such contract was made, by a majority
of the voters thereof voting on the proposition, in the manner
provided for the incurring of a bonded indebtedness. In the event of
the approval of such contract by the voters, the limitations provided
in Sections 75357 and 75358 shall not apply.