California Code, Health and Safety Code - HSC § 32130
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A district may borrow money and incur indebtedness in an amount not to exceed 85 percent of all estimated income and revenue for the current fiscal year, including, but not limited to, tax revenues, operating income, and any other miscellaneous income received by the district, from whatever source derived.The money borrowed and indebtedness incurred under this section shall be repaid within the same fiscal year.
Cite this article: FindLaw.com - California Code, Health and Safety Code - HSC § 32130 - last updated January 01, 2023 | https://codes.findlaw.com/ca/health-and-safety-code/hsc-sect-32130.html
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