The district shall not incur an indebtedness for public works which in the aggregate exceeds 15 percent of the assessed value of all the real and personal property within the district.
Cal. Pub. Util. Code § 90502
Indebtedness
Known as the San Diego County Transit District Act
The act spans §§ 90000–93017 (221 sections).
Added by Stats. 1965, Ch. 2039.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.