Section 4746.2 - Borrowing funds(a) If the district board determines by resolution that funds are needed to meet current expenses of maintenance and repair of damage caused by disaster, a district may borrow and repay county funds not to exceed 85 percent of the district's anticipated revenue for the fiscal year in which they are borrowed or for the next ensuing fiscal year. In levying taxes as authorized by this article the district may raise sufficient revenues to repay such loans.(b) The district may also borrow funds from another sanitation district and may lend available district funds to another sanitation district, subject to the same terms and conditions as apply to loans of county funds.(c) At no time shall a district borrow funds pursuant to this section in an amount exceeding 85 percent of the district's anticipated revenue for the fiscal year in which the funds are borrowed or for the next ensuing fiscal year.(d) As used in this section, "disaster" includes any fire, earthquake, landslide, mudslide, flood, or tidal wave.Ca. Health and Saf. Code § 4746.2
Added by Stats. 1969, Ch. 419.