California Streets and Highways Code 25376 – No bonds shall be issued by the district in an amount which will …
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No bonds shall be issued by the district in an amount which will aggregate at any time an obligation in excess of 10 per cent of the assessed value of the aggregate total taxable property within the district as shown by the then current taxation assessment rolls of the several counties within the district.
(Added by Stats. 1943, Ch. 284.)
Terms Used In California Streets and Highways Code 25376
- 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.