California § 55503 - The board may borrow funds from the county, other waterworks districts, and, wher
Full text of California Public Contract Code - PCC § 55503 — The board may borrow funds from the county, other waterworks districts, and, wher, with citation guidance and answers to common questions.
§ 55503. The board may borrow funds from the county, other waterworks districts, and, wher
The board may borrow funds from the county, other waterworks districts, and, where the district is a subsidiary district, the city, not to exceed 85 percent of the districtâs anticipated revenue for the fiscal year in which they are borrowed or for the next ensuing fiscal year. In levying taxes as authorized by this division, the board may raise sufficient revenues to repay such loans. The board may lend available district funds to another waterworks district, subject to the terms and conditions set forth in this section. Nothing contained in this section shall prohibit the board from borrowing such funds from banks or other financial institutions when the best interests of the district are served thereby.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 55503
What does Public Contract Code - PCC § 55503 cover?
Section 55503 ("The board may borrow funds from the county, other waterworks districts, and, wher") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 55503?
A common citation format is "Public Contract Code - PCC § 55503" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 55503 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.