2005 California Streets and Highways Code Sections 10550-10555 CHAPTER 6.1. LOAN REPAYMENT ASSESSMENT DISTRICTSSTREETS AND HIGHWAYS CODE
10550. (a) If a municipality has entered into a contract with the state that includes a loan funded by the state for the purpose of financing the construction and installation of water or sewer system improvements in or along its streets that are of special benefit to land within the municipality, the municipality may conduct proceedings under this division for the formation of an assessment district for the purpose of levying an assessment to secure repayment of the loan. (b) Except as otherwise provided in this chapter, the proceeding for the formation of the assessment district and the levy of the assessment shall be conducted in accordance with this division, with appropriate modifications to all resolutions and notices. 10555. The legislative body shall provide in the resolutions required under Sections 10200 and 10312 that the assessment will be collected in annual installments.
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