ARTICLE 3. Short Term Borrowing

Article 3 added by Stats. 1959, Ch. 1598.

§§ 7200–7202 · 3 sections

• § 7200 A district may incur indebtedness for any purpose for which the district is authorized to expend funds by the issuance of negotiable promissory notes pursuant…
• § 7201 Said notes shall be payable in not to exceed five years from their date and shall bear interest at not exceeding 6 percent per annum, payable as provided…
• § 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…