(a) The board may determine conclusively by resolution whether the mortgage or encumbrance
represents all or part of the cost of the acquired property and constitutes a purchase
money lien on the property.
(b) The board may contract to use and pledge its revenue derived solely from the sale
of water and services supplied through the acquired properties for the payment of
a purchase money lien.
(c) The board also may use revenue from taxation or from the issuance and sale of
bonds to pay all or part of the amount due under the encumbrance if a majority of
the electors of the district voting at an election on this proposition approve its
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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