Water Code § 36408.4

CHAPTER 4.5. Provisions Relating to Short Term Borrowings

Current as of September 28, 2026Wat. Code, § 36408.4Official source ↗

Amended by Stats. 1992, Ch. 1020, Sec. 40. Effective January 1, 1993.

Warrants or negotiable notes payable at a future date or times may also be issued to obtain funds or property for any lawful purpose of the district; provided, the total amount of the warrants or negotiable notes payable in any one year shall not exceed one-fourth of one (1) percent of the total valuation of the land in the district according to the last equalized assessment roll.