A district may borrow money and incur indebtedness for the purchasing of electricity; provided, that the maximum principal amount of indebtedness outstanding under this article shall not at any one time exceed twenty-five million dollars ($25,000,000).
Cal. Pub. Util. Code § 13391
Borrowing to Purchase Electricity
Known as the Municipal Utility District Act
The act spans §§ 11501–14403 (486 sections).
Added by Stats. 1982, Ch. 365, Sec. 2.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.