California · Harbors and Navigation Code - HNC

HNC §6363: From the time of the organization of any district until the next succeeding July first, the district may incur indebtedness for the purpose of operating the port and in the first tax levy, the rate sh

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What this law says, in plain English

A newly organized port district may incur debt for operating expenses until the following July first, with the initial tax levy determining the rate.

Read the full statutory text

From the time of the organization of any district until the next succeeding July first, the district may incur indebtedness for the purpose of operating the port and in the first tax levy, the rate shall be in an amount sufficient to operate the port for the first full fiscal year as well as to pay the obligations thus incurred before the first of the July succeeding the creation of the district.

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