(a)  If the district board determines by resolution that funds are needed to meet current expenses of maintenance and repair of damage caused by disaster, a district may borrow and repay county funds not to exceed 85 percent of the district’s anticipated revenue for the fiscal year in which they are borrowed or for the next ensuing fiscal year. In levying taxes as authorized by this article the district may raise sufficient revenues to repay such loans.

(b)  The district may also borrow funds from another sanitation district and may lend available district funds to another sanitation district, subject to the same terms and conditions as apply to loans of county funds.

Terms Used In California Health and Safety Code 4746.2

  • County: includes city and county. See California Health and Safety Code 14
  • District: as used in this chapter , means any county sanitation district formed pursuant to this chapter or pursuant to any law which it supersedes. See California Health and Safety Code 4701
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.

(c)  At no time shall a district borrow funds pursuant to this section in an amount exceeding 85 percent of the district’s anticipated revenue for the fiscal year in which the funds are borrowed or for the next ensuing fiscal year.

(d)  As used in this section, “disaster” includes any fire, earthquake, landslide, mudslide, flood, or tidal wave.

(Added by Stats. 1969, Ch. 419.)

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