California § 50665.1. 50665.1. (Amended by Stats. 1987, Ch. 1388, Sec. 1.)

California Statutes

§ 50665.1. — 50665.1. (Amended by Stats. 1987, Ch. 1388, Sec. 1.)

California·Code GOV Government Code - GOV·Div. 1.·Title 5. DIVISION 1. CITIES AND COUNTIES·Part 1. PART 1. POWERS AND DUTIES COMMON TO CITIES AND COUNTIES·Ch. 3. CHAPTER 3. Bonds·Art. 4. ARTICLE 4. Limited Obligation Bonds

As used in this article:

(a)“Local agency” means any county, city, or city and county, including a chartered city, or special district, including a school district.

(b)“Legislative body” means the city council in the case of a city, and the board of supervisors in the case of a county.

(c)“Revenues” means the funds received by a local agency from any source or combination of sources, which a local agency is not precluded by any other provision of law from using for the purposes of this article. “Revenues” include the proceeds of ad valorem taxes on real property levied by, or allocated to, the local agency, and the proceeds of sales and use taxes.

(d)“Pledged revenue” means a specified annual dollar amount from a specified source or combination of sources of revenue, which the legislat

Free access — add to your briefcase to read the full text and ask questions with AI

As used in this article:
(a)
“Local agency” means any county, city, or city and county, including a chartered city, or special district, including a school district.
(b)
“Legislative body” means the city council in the case of a city, and the board of supervisors in the case of a county.
(c)
“Revenues” means the funds received by a local agency from any source or combination of sources, which a local agency is not precluded by any other provision of law from using for the purposes of this article. “Revenues” include the proceeds of ad valorem taxes on real property levied by, or allocated to, the local agency, and the proceeds of sales and use taxes.
(d)
“Pledged revenue” means a specified annual dollar amount from a specified source or combination of sources of revenue, which the legislative body of a local agency, in a resolution providing for the issuance of limited obligation bonds, has designated and pledged as security for the bonds in accordance with Section 50665.7.
(e)
“Limited obligation bonds” are bonds issued by a local agency which are to be paid solely from pledged revenue.
(f)
“Initiating resolution” means a resolution by which a legislative body determines that public interest or necessity demands the issuance of bonds.
(g)
“Resolution” means a resolution by which a legislative body authorizes the issuance, sale, and delivery of bonds.

California § 50665.1. (50665.1. (Amended by Stats. 1987, Ch. 1388, Sec. 1.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.