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HomeHarbors and Navigation CodeDiv. 8General ProvisionsCh. 1Art. 3§ 5861 Election And Debt Resolution

§ 5861 Election And Debt Resolution

Harbors and Navigation Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 5861 Election And Debt Resolution

This law tells a city board how to set up a special election and how to borrow money for a project, including limits on the interest they can charge.

Key Takeaways

  • •Election day must be at least 130 days after the board’s resolution.
  • •Voting places and precinct boundaries have to be clearly set.
  • •Election staff must live in the precinct they serve.
  • •Any money borrowed can’t have interest higher than 7% a year, and it’s paid twice a year.

Example

A town wants to hold a vote on building a new park and needs to borrow $1,000,000 to pay for it.

The board must pick an election day at least 130 days away, decide where people will vote, name election workers who live in the area, say why they need the money, and promise not to charge more than 7% interest, paid twice a year.

How to Calculate

Interest per payment = Principal × (Maximum Rate ÷ 2)

  1. Find the principal amount you are borrowing.
  2. Take the maximum allowed interest rate (7% per year) and divide it by 2 because interest is paid twice a year.
  3. Multiply the principal by the half‑year rate to get the amount of interest due each payment.

The town borrows $1,000,000.

Result: Interest per half‑year = 1,000,000 × (0.07 ÷ 2) = 1,000,000 × 0.035 = 35,000 dollars. The town will pay $35,000 in interest every six months.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 5861 Election And Debt Resolution

This resolution of the board of supervisors shall: (a) Fix the date of the election which shall be not less than 130 days after the date of the passage of the resolution. (b) Designate one or more voting precincts and generally describe the boundaries of each precinct. (c) Designate a place within each precinct at which the polls will be opened for the purpose of the election on the date of the election. (d) Appoint a board of election for each precinct, consisting of one inspector, one judge, and one clerk, each of whom shall be a registered elector of, and reside within, the precinct for which he or she is appointed. (e) State the object and purposes for which the indebtedness is proposed to be incurred and the amount of the principal of the indebtedness. (f) Recite a maximum rate of interest to be paid on indebtedness, not exceeding seven per cent per annum, payable semiannually. (Amended by Stats. 2002, Ch. 221, Sec. 48. Effective January 1, 2003.)

Last verified: January 11, 2026

Key Terms

board of supervisorselection datevoting precinctsboard of electionindebtedness

Related Statutes

  • § 6031 Board Of Supervisors Election Procedures
  • § 5870 District Formation And Debt
  • § 6032 Precinct Election Board Appointment
  • § 5859 Harbor District Boundary Determination
  • § 5862 District Formation Election Rules

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Harbors and Navigation Code. Section 5861.
View Official Source