Section 4764 Of Article 4. District Powers From California Health And Safety Code >> Division 5. >> Part 3. >> Chapter 3. >> Article 4.
4764
. It may borrow money and incur indebtedness and guarantee the
performance of its legal or contractual obligations whether
heretofore or hereafter incurred; and also refund or retire any
public indebtedness or lien that may exist against the district or
any property therein which shall have arisen out of the transaction
of the affairs of the district. It shall not, however, incur any
bonded indebtedness unless it submits the proposition for incurring
the bonded indebtedness to the voters of the district, or if the
bonded indebtedness is for an improvement district, to the voters of
the improvement district, at a regular election or a special election
called for that purpose and at least two-thirds of the votes cast at
the election are in favor of incurring the bonded indebtedness as
proposed.