GroundRules
PRC § 5790
Where this section sits in the code
- Public Resources Code - PRC
- DIVISION 5. PARKS AND MONUMENTS [5001. - 5877.]
- CHAPTER 4. Recreation and Park Districts [5780. - 5796.20.]
- ARTICLE 11. General Obligation Bonds [5790. - 5790.17.]
(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.
Collected 2026-09-14T05:56:33Z. Source file · JSON