Every district by its board may, in addition to other powers, borrow funds for any lawful purpose at an interest rate not exceeding 5 per cent per year and issue warrants therefor payable at future dates. No election authorizing such borrowing or issuance of warrants need be held but the principal amount of such indebtedness unpaid at any time shall not exceed two hundred thousand dollars ($200,000).
Cal. Water Code § 22960
Miscellaneous Provisions
Known as the Irrigation District Law
The act spans §§ 20500–29978 (1,017 sections).
Added by Stats. 1943, Ch. 686.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.