53345. Whenever the legislative body deems it necessary for the community facilities district to incur a bonded indebtedness, it shall, by resolution, set forth all of the following:(a) A declaration of the necessity for the indebtedness.(b) The purpose for which the proposed debt is to be incurred.(c) The amount of the proposed debt. The legislative body may provide for a reduction in the amount of proposed debt in compliance with the provisions of Section 53313.9.(d) The time and place for a hearing by the legislative body on the proposed debt authorization.(Amended by Stats. 2007, Ch. 670, Sec. 99. Effective January 1, 2008.)
California Legal Code