Section 75411 Of Article 1. Initiation Of Proceedings From California Water Code >> Division 21. >> Part 8. >> Chapter 4. >> Article 1.
75411
. The resolution of the board shall also designate that
portion of the cost of the project, if any, that the board determines
can be secured equitably by means of an assessment on all lands in
the district, or if so determined by the board, on all real property
within the district, in accordance with the assessed value of the
land (or real property) as it appears on the county assessment roll,
payable in not to exceed 40 annual installments at an annual rate not
to exceed 7 percent.
In lieu of securing such portion of the cost through a separate
assessment levied on the land (or real property), the board may elect
to pay such portion of the cost from funds secured for general
purposes by assessments levied on all of the land within the district
pursuant to the provisions of Chapters 1 (commencing with Section
75350) and 2 (commencing with Section 75370) of this part and subject
to the limitations contained therein. If the board so elects, it
shall so state in the resolution and the amount of money so paid
shall not be considered by the electors in the election provided in
this chapter.