Harb. & Nav. Code, § 7202 · Article 3. Short Term Borrowing
Harb. & Nav. Code, § 7202
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
The total aggregate amount of said notes outstanding at any one time shall not exceed a limit of 2 percent of the assessed valuation of the taxable property in the district or, if the assessed valution is not obtainable, 2 percent of the county auditor’s estimate of the taxable property in the district evidenced by his certificate, provided:
(a) A district which has been formed for less than 18 months may exceed said limit and in the event may borrow an aggregate amount of not to exceed thirty-five thousand dollars ($35,000).
(b) No district shall borrow more than an aggregate amount of one hundred fifty thousand dollars ($150,000).
Notes and commentary — not statutory text
History
Added by Stats. 1959, Ch. 1598.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=HNC§ionNum=7202.
- Text hash
- sha256 7cc9524502f28736c2b3ece29dd32836f19e1954c91f35c27166780bb2558721
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.