ARTICLE 6. Indebtedness [25841. - 25849.]

Article 6 added by Stats. 1955, Ch. 1036.

§§ 25841–25849 · 10 sections

• § 25841 A district may borrow money and incur indebtedness, and may issue bonds or other evidences of indebtedness. No indebtedness shall be incurred exceeding the…
• § 25841.5 A district may borrow money for the purpose of defraying the expenses of a district lawfully incurred after the commencement of the fiscal year, but prior to…
• § 25842 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…
• § 25843 Indebtedness which has been incurred for the acquisition, construction, and operation of transit facilities, where the revenue from the transit facilities for…
• § 25844 A district may accept, without limitation by any other provisions of this division requiring approval of indebtedness, contributions or loans from the United…
• § 25845 The district may purchase equipment such as cars, trolley buses and motorbuses, and rolling equipment, and may execute agreements, leases and equipment trust…
• § 25846 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…
• § 25847 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…
• § 25848 The covenants, conditions and provisions of the agreements, leases, and equipment trust certificates shall not conflict with any of the provisions of any trust…
• § 25849 An executed copy of each agreement or lease shall be filed in the Office of the Secretary of State, who will be entitled to receive one dollar ($1) for each…