Statute · California Public Resources Code
Cal. Pub. Res. Code § 5790 — General Obligation Bonds
Cal. Pub. Res. Code § 5790
- Type
- Statute
- Source
- California Public Resources Code
- Jurisdiction
- California
- Date
- 2002-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) Whenever a board of directors determines that it is necessary to incur a general obligation bonded indebtedness for the acquisition or improvement of real property or for funding or refunding of any outstanding indebtedness, the board of directors shall adopt a resolution making…
Citator
Cal. Pub. Res. Code § 5790 — General Obligation Bonds is in force in the current edition of the Code, and nothing recorded condemns it.
(a) Whenever a board of directors determines that it is necessary to incur a general obligation bonded indebtedness for the acquisition or improvement of real property or for funding or refunding of any outstanding indebtedness, the board of directors shall adopt a resolution making determinations and calling an election on a proposition to incur indebtedness.
(b) The amount of the bonds to be issued shall not exceed the amount specified in the resolution calling the election.
(c) A district shall not incur bonded indebtedness that exceeds 10 percent of the assessed value of all taxable property in the district at the time the bonds are issued.