§ 22960
67 words·~1 min read·
/ca/water-code/22960A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Every district by its board may, in addition to other powers, borrow funds for any lawful purpose at an interest rate not exceeding 5 per cent per year and issue warrants therefor payable at future dates. No election authorizing such borrowing or issuance of warrants need be held but the principal amount of such indebtedness unpaid at any time shall not exceed two hundred thousand dollars ($200,000).