Section 9082 - General obligation bond indebtedness for acquisition or improvement of real property(a) Whenever a board of trustees determines that it is necessary to incur a general obligation bond indebtedness for the acquisition or improvement of real property, the board of trustees may proceed pursuant to Article 11 (commencing with Section 5790) of Chapter 4 of Division 5 of the Public Resources Code. For the purposes of that article, the board of trustees shall be considered the board of directors of the district.(b) Notwithstanding subdivision (a), a district shall not incur indebtedness that exceeds 2 percent of the assessed value of all taxable property in the district at the time the bonds are issued. Ca. Health and Saf. Code § 9082
Added by Stats 2003 ch 57 (SB 341), s 5, eff. 1/1/2004.