Payment of Judgments Against Local Public Entities; Funding Judgments With Bonds
Whenever the board deems it necessary for the local taxing entity to incur a bonded indebtedness to fund all or any portion of an outstanding judgment against the entity it shall by resolution state:
(a) The necessity for the indebtedness.
(b) The purpose for which the proposed debt is to be incurred.
(c) The amount of the proposed debt.
(d) The time and place For a hearing by the board on the question whether the local taxing entity should incur a bonded indebtedness to fund all or any portion of an outstanding judgment against the entity.
(Added by Stats. 1963, Ch. 1715.)