Public Resources Code section 5790

(a)

Whenever a board of directors determines that it is necessary to incur a general obligation bonded indebtedness for the acquisition or improvement of real property or for funding or refunding of any outstanding indebtedness, the board of directors shall adopt a resolution making determinations and calling an election on a proposition to incur indebtedness.

(b)

The amount of the bonds to be issued shall not exceed the amount specified in the resolution calling the election.

(c)

A district shall not incur bonded indebtedness that exceeds 10 percent of the assessed value of all taxable property in the district at the time the bonds are issued.

Source: Section 5790, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=PRC§ionNum=5790.­ (updated Jan. 1, 2002; accessed Jul. 7, 2025).

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Verified:
Jul. 7, 2025

§ 5790's source at ca​.gov