Pub. Resources Code, § 5790 · Article 11. General Obligation Bonds
Pub. Resources Code, § 5790
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) Whenever a board of directors determines that it is necessary to incur a general obligation bonded indebtedness for the acquisition or improvement of real property or for funding or refunding of any outstanding indebtedness, the board of directors shall adopt a resolution making determinations and calling an election on a proposition to incur indebtedness.
(b) The amount of the bonds to be issued shall not exceed the amount specified in the resolution calling the election.
(c) A district shall not incur bonded indebtedness that exceeds 10 percent of the assessed value of all taxable property in the district at the time the bonds are issued.
Notes and commentary — not statutory text
History
Added by Stats. 2001, Ch. 15, Sec. 4. Effective January 1, 2002.
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=PRC§ionNum=5790.
- Text hash
- sha256 47096d33aa225b0cb632dd18913e77859d1366a4e463c3b0331d82d2e6d303cb
- 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
Cited by 1 provision
Provisions in this library whose text cites Pub. Resources Code, § 5790. Each shows the citation as that text prints it.
Public Resources Code
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.