(a) Whenever the board determines that it is necessary for a county service area to incur a general obligation bond indebtedness for the acquisition or improvement of real property, the board may proceed pursuant to Chapter 6 (commencing with Section 29900) of Division 3.

(b) The total amount of bonded indebtedness incurred pursuant to this section shall not at any time exceed 5 percent of the taxable property within the county service area as shown by the last equalized assessment roll.

Terms Used In California Government Code 25216.1

  • Board: means the county board of supervisors acting as the governing authority of a county service area. See California Government Code 25210.2
  • County: includes city and county. See California Government Code 19
  • County service area: means a county service area formed pursuant to this chapter or any of its statutory predecessors. See California Government Code 25210.2
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.

(Added by Stats. 2008, Ch. 158, Sec. 2. Effective January 1, 2009.)

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