ARTICLE 6. Indebtedness

Article 6 added by Stats. 1965, Ch. 2039.

§§ 90500–90508 · 10 sections

• § 90500 The district may borrow money and incur indebtedness, and may issue bonds or other evidences of indebtedness. No indebtedness shall be incurred exceeding the…
• § 90501 The district may borrow money for the purpose of defraying the expenses of the district lawfully incurred after the commencement of the fiscal year, but prior…
• § 90501.5 The board of directors of the district may, within a period of two years from and after the formation of the district, pursuant to a resolution adopted by it…
• § 90502 The district shall not incur an indebtedness for public works which in the aggregate exceeds 15 percent of the assessed value of all the real and personal…
• § 90503 Indebtedness which has been incurred for the acquisition, construction, and operation of transit facilities, where the revenue from the transit facilities for…
• § 90504 The district may accept, without limitation by any other provisions of this act requiring approval of indebtedness, contributions or loans from the United…
• § 90505 The district may purchase equipment such as cars, trolley buses and motorbuses, and rolling equipment, and may execute agreements, leases and equipment trust…
• § 90506 The agreement to purchase or lease may direct the vendor or lessor to sell and assign or lease the rolling equipment to a bank or trust company, duly…
• § 90507 The agreements and leases shall be duly acknowledged before a person authorized by law to take acknowledgments of deeds and in the form required for…
• § 90508 The covenants, conditions and provisions of the agreements, leases, and equipment trust certificates shall not conflict with any of the provisions of any trust…