2007 California Water Code Article 3. Advance Of Funds

CA Codes (wat:71936-71937)

71936.  The board may advance general funds of the district to
accomplish the purposes of an improvement district formed pursuant to
this chapter.


71937.  The board may repay the district for any advance of funds
from the proceeds of the sale of bonds authorized for the purposes of
the improvement district or as provided in Section 71616.  To the
extent that advances made for improvements for which such bonds were
authorized are repaid from the funds other than the proceeds of the
sale of bonds of the improvement district, the authority of the board
to issue bonds of the improvement district in a like amount or
amounts shall terminate.  The treasurer shall maintain proper records
and accounts in which there shall be set forth all repayments of
advances to the extent that advances are made for the improvements
for which such bonds were authorized and, to the extent that such
repayments reduce the amount of bonds which may be issued on behalf
of any improvement district, the net principal amount of authorized
but unissued bonds of such improvement district.