GroundRules
HNC § 7202
Where this section sits in the code
- Harbors and Navigation Code - HNC
- DIVISION 8. HARBOR AND PORT DISTRICTS [5800. - 7340.]
- PART 7. SMALL CRAFT HARBOR DISTRICTS [7000. - 7340.]
- CHAPTER 6. Financial Provisions [7170. - 7243.]
- ARTICLE 3. Short Term Borrowing [7200. - 7202.]
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).
Collected 2026-09-14T05:56:33Z. Source file · JSON