Oxnard Harbor District: infrastructure projects: funding.

(1) Existing law prescribes procedures for the formation of harbor districts, and sets forth the powers of a district with regard to the operation, management, and development of harbor facilities in a district. Existing law authorizes the board of a harbor district, among other things, to borrow up to $1,000,000 for the purposes of acquiring land for constructing or operating any work, project, or certain authorized facilities or for the making of improvements or the purchase of equipment for the maintenance of those facilities, as prescribed. This bill would, notwithstanding that borrowing limit, authorize the Oxnard Harbor District to borrow money by issuance of promissory notes, or execute conditional sales contracts to purchase personal property, in an amount or of a value not exceeding in the aggregate at any one time the sum of $10,000,000, for the purposes of acquiring land or constructing or operating any authorized work, project, or facility, or for the making of any improvement, or the purchase of equipment or for the maintenance of that equipment, in accordance with prescribed procedures. (2) This bill would make legislative findings and declarations as to the necessity of a special statute for the Oxnard Harbor District.