The district shall not incur an indebtedness which exceeds in the aggregate 15 percent of the assessed value of all real and personal property in the district. Within the meaning of this section, “indebtedness” includes, without limitation, any and all forms thereof which the district is authorized to issue by this part or by any other law.
(Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)
Last modified: October 25, 2018