SECTIONS 75030-75032 - California Statutes

WATER CODE

SECTION 75030-75032

75030. If the board makes the final order approving the formation
petition, it may, by resolution adopted by a majority of its members,
call an election for the purpose of authorizing the incurring of a
bonded indebtedness by the improvement district.

75031. The resolution shall specify all of the following:
(a) The purpose for which bonds are proposed to be issued.
(b) The maximum rate of interest the bonds shall bear.
(c) The number of years, not exceeding 25, the whole or any part
of the bonds are to run until maturity.

75032. The resolution shall further provide for submitting the
question of the incurring of the indebtedness to the qualified
electors of the improvement district at an election called for that
purpose.