Section 36447.7 Of Chapter 4.95. Alternative Provisions For The Issuance Of Bonds Of Improvement Districts From California Water Code >> Division 13. >> Part 6. >> Chapter 4.95.
36447.7
. At the conclusion of the hearing, in the absence of a
majority protest pursuant to Section 36447.6, the board shall adopt a
resolution making the finding required by subdivision (b) of Section
36447.1, and, if any of the features provided for by Sections
36447.9 and 36447.10 are to be included in the consolidated bonds,
also making a finding that the features so utilized will not increase
the cost that any improvement district will pay over the cost that
it would have paid had the bonds been sold without those features.
All findings required by this section shall be supported by
substantial evidence, which shall mean evidence that is reasonable,
credible, and of solid value and ponderable legal significance, based
upon the record as a whole. The findings shall also be made as to
any modifications made by the board in the terms of the proposed
resolution of issuance as a result of the hearing. If the board makes
the foregoing findings in accordance with the provisions of this
chapter, the board may adopt the proposed resolution of issuance in
final form.