Public Utilities Code § 90502
ARTICLE 6. Indebtedness
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 property within the district.
ARTICLE 6. Indebtedness
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 property within the district.