Section 103360.2 Of Article 10. Retail Transaction And Use Tax From California Public Utilities Code >> Division 10. >> Part 15. >> Chapter 5. >> Article 10.
103360.2
. (a) The district may borrow money in anticipation of the
sale of bonds which have been authorized pursuant to this article but
which have not been sold or delivered, and may issue negotiable bond
anticipation notes therefor and may renew the bond anticipation
notes from time to time. However, the maximum maturity of any bond
anticipation notes, including the renewals thereof, shall not exceed
five years from the date of delivery of the original bond
anticipation notes.
(b) The bond anticipation notes, and the interest thereon, may be
paid from any money of the district available therefor, including the
revenues from the retail transactions and use tax. If not previously
otherwise paid, the bond anticipation notes, or any portion
thererof, or the interest thereon, shall be paid from the proceeds of
the next sale of the bonds of the district in anticipation of which
the notes were issued.
(c) The bond anticipation notes shall not be issued in any amount
in excess of the aggregate amount of the bonds which the district has
been authorized to issue, less the amount of any bonds of the
authorized issue previously sold, and also less the amount of other
bond anticipation notes therefor issued and then outstanding. The
bond anticipation notes shall be issued and sold in the same manner
as the bonds.
(d) The bond anticipation notes and the resolutions authorizing
them may contain any provisions, conditions, or limitations which a
resolution of the district may contain.