§ 32130
66 words·~1 min read·
/ca/health-and-safety-code/32130A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A district may borrow money and incur indebtedness in an amount not to exceed 85 percent of all estimated income and revenue for the current fiscal year, including, but not limited to, tax revenues, operating income, and any other miscellaneous income received by the district, from whatever source derived. The money borrowed and indebtedness incurred under this section shall be repaid within the same fiscal year.