Allows a water district to borrow money and issue a warrant before defaulting on debt payments.
This bill allows a water district created by special act of the Legislature to borrow money and issue a warrant prior to defaulting on debt payments. The district can borrow to cover principal, interest, and transaction costs, issuing a warrant to repay the borrowed amount plus interest. The district must prepare a financial management plan and submit it to the commission and municipalities for review. The commission can then examine the plan and allow affected municipalities to provide input.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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