The board may then issue the bonds of the division to the number and amount provided for in the election proceedings. The bonds shall be payable out of the funds of the division, and the money for the redemption of and the interest on the bonds shall be raised by taxation upon the property in the division. The total amount of bonds so issued shall not exceed fifteen per cent of the taxable property of the division as shown by the last equalized assessment roll of the county.
Cal. Sts. & High. Code § 1184
By Permanent Road Divisions
Known as the Permanent Road Division Law
The act spans §§ 1160–1197 (49 sections).
Enacted by Stats. 1935, Ch. 29.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.