Statute · California Harbors and Navigation Code
Cal. Harb. & Nav. Code § 7202 — Short Term Borrowing
Cal. Harb. & Nav. Code § 7202
- Type
- Statute
- Source
- California Harbors and Navigation Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
The total aggregate amount of said notes outstanding at any one time shall not exceed a limit of 2 percent of the assessed valuation of the taxable property in the district or, if the assessed valution is not obtainable, 2 percent of the county auditor’s estimate of the taxable property in the…
Citator
Cal. Harb. & Nav. Code § 7202 — Short Term Borrowing is in force in the current edition of the Code, and nothing recorded condemns it.
The total aggregate amount of said notes outstanding at any one time shall not exceed a limit of 2 percent of the assessed valuation of the taxable property in the district or, if the assessed valution is not obtainable, 2 percent of the county auditor’s estimate of the taxable property in the district evidenced by his certificate, provided:
(a) A district which has been formed for less than 18 months may exceed said limit and in the event may borrow an aggregate amount of not to exceed thirty-five thousand dollars ($35,000).
(b) No district shall borrow more than an aggregate amount of one hundred fifty thousand dollars ($150,000).