A district shall not incur a bonded indebtedness in excess of 10 percent of the assessed value of all taxable property within the district.
Cal. Health & Safety Code § 13937
General Obligation Bonds
Known as the Fire Protection District Law
The act spans §§ 13800–13970 (136 sections).
Repealed and added by Stats. 1987, Ch. 1013, Sec. 11.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.