{"code":"PRC","codeName":"Public Resources Code","section":"5790","citation":"Pub. Resources Code, § 5790","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 5. PARKS AND MONUMENTS [5001. - 5877.]","url":"https://blackletter.si/public-resources-code/division-5"},{"name":"CHAPTER 4. Recreation and Park Districts [5780. - 5796.20.]","url":"https://blackletter.si/public-resources-code/division-5/chapter-4"},{"name":"ARTICLE 11. General Obligation Bonds [5790. - 5790.17.]","url":"https://blackletter.si/public-resources-code/division-5/chapter-4/article-11"}],"history":"Added by Stats. 2001, Ch. 15, Sec. 4.   Effective January 1, 2002.","effective":"2002-01-01","html":"<p>(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.</p><p>(b) The amount of the bonds to be issued shall not exceed the amount specified in the resolution calling the election.</p><p>(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.</p>","text":"(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.","otherVersions":[],"url":"https://blackletter.si/public-resources-code/general-obligation-bonds-5790","source":"California Legislative Information bulk export (pubinfo)"}