Section 40270 Of Article 5. Financial Provisions From California Health And Safety Code >> Division 26. >> Part 3. >> Chapter 4. >> Article 5.

. The bay district may borrow money and incur indebtedness in anticipation of the revenue for the current year in which the indebtedness is incurred or for the ensuing year. Such indebtedness shall not exceed the total amount of the estimate of the tax income for either the current year or the ensuing year.