Public Utilities Code § 25842
ARTICLE 6. Indebtedness
No district shall incur an indebtedness for public works which in the aggregate exceeds 20 percent of the assessed value of all the real and personal property within the district.
ARTICLE 6. Indebtedness
No district shall incur an indebtedness for public works which in the aggregate exceeds 20 percent of the assessed value of all the real and personal property within the district.