Section 31113 Of Article 6.5. Sewer And Garbage Facilities In The Calaveras County Water District From California Water Code >> Division 12. >> Part 5. >> Chapter 1. >> Article 6.5.
31113
. Pursuant to a resolution adopted by a fourth-fifths vote of
all the members of the board, the Calaveras County Water District may
deposit any funds of the district, not to exceed four hundred
thousand dollars ($400,000) in amount, in a revolving fund to be
available for the acquisition of real or personal property, for
engineering services, or for the construction of structures or
improvements needed in whole or in part to provide facilities and
services within the district, or an improvement district therein, as
authorized pursuant to Section 31110. Such revolving fund shall be
reimbursed from service fees, connection charges, tax revenues, or
other moneys available from the service area, and no sums shall be
disbursed from the fund until the board has, by resolution,
established the method by which, and the term, not to exceed five
years, within which the fund shall be reimbursed. The fund shall be
reimbursed within five years together with interest at the current
legal rate per annum.