Water Code section 36408.4

Warrants or negotiable notes payable at a future date or times may also be issued to obtain funds or property for any lawful purpose of the district; provided, the total amount of the warrants or negotiable notes payable in any one year shall not exceed one-fourth of one (1) percent of the total valuation of the land in the district according to the last equalized assessment roll.

Source: Section 36408.4, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=WAT§ionNum=36408.­4.­ (updated Jan. 1, 1993; accessed Dec. 8, 2025).

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Verified:
Dec. 8, 2025

§ 36408.4's source at ca​.gov