SECTIONS 60270-60282

60270.  Whenever the board deems it necessary for the district toincur a bonded indebtedness, the board shall, by resolution, sodeclare and state the purpose for which the proposed debt is to beincurred, the amount of debt to be incurred, the maximum term thebonds proposed to be issued shall run before maturity, which shallnot exceed 40 years; the maximum rate of interest to be paid, whichshall not exceed 8 percent per annum, and the measure to be submittedto the voters.60271.  The board shall fix a date upon which an election shall beheld for the purpose of authorizing said bonded indebtedness to beincurred.60272.  It shall be the duty of the board to provide for holdingsuch special election on the day so fixed and in accordance with theprovisions of the Elections Code so far as the same shall beapplicable, except as herein otherwise provided.60273.  Such board shall give notice of the holding of suchelection, which notice shall contain the text of the resolutionadopted by the board of the district, the designation of precincts,the location of polling places, and the names of the officersselected to conduct the election, who shall consist of one judge, oneinspector and two clerks in each precinct.60274.  In case such election is consolidated with a state or countyelection, the precincts, polling places, and election officers shallbe the same as provided for such state or county election, and itshall be sufficient if the resolution and notice so state.60275.  The notice shall be published in such district pursuant toSection 6066 of the Government Code in a newspaper or newspapersdesignated by the board. If there is no newspaper published in suchdistrict, then such notice shall be posted in three public places insuch district in each affected county. Publication or posting shallbe complete at least 14, but not more than 28, days prior to the dateof the election.60276.  All the expenses of holding such election shall be borne bythe district.60277.  The returns of such election shall be made, the votescanvassed by said board within seven days following said election,and the results thereof ascertained and declared in accordance withthe provisions of the Elections Code, so far as they may beapplicable, except as in this act otherwise provided.60278.  The secretary of the board, as soon as the result isdeclared, shall enter in the records of such board a statement ofsuch results.60279.  No irregularities or informalities in conducting suchelection shall invalidate the same, if the election shall haveotherwise been fairly conducted.60280.  Any action or proceeding, wherein the validity of any suchbonds or of the proceedings in relation thereto is contested,questioned or denied, shall be commenced within three months from thedate of such election; otherwise, said bonds and all proceedings inrelation thereto shall be held to be valid and in every respect legaland incontestable.60281.  If from such returns it appears that more than two-thirds ofthe votes cast at such election held pursuant to the provisions ofthis chapter were in favor of and assented to the incurring of suchindebtedness, then the board may, by resolution, at such time ortimes as it deems proper, provide for the form and execution of suchbonds and for issuance of any part thereof, and may sell or disposeof the bonds so issued at such times or in such manner, either forcash in lawful money of the United States or its equivalent, as itmay deem to be to the public interest.60282.  Any bonds issued by any district are hereby given the sameforce, value and use as bonds issued by any city and shall be exemptfrom all taxation within the State of California.