California Statutes
§ 53588. — 53588. (Added by Stats. 1985, Ch. 1033, Sec. 18.)
California·Code GOV Government Code - GOV·Div. 2.·Title 5. DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES·Part 1. PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES·Ch. 3. CHAPTER 3. Bonds·Art. 11. ARTICLE 11. Provisions Applicable to All Refunding Bonds of All Local Agencies
The issuance, transfer, and interest income earned on any bonds issued by a local agency under this article is exempt from taxation of every kind by any state or local entity. The local agency shall not be required to pay any taxes on, or with respect to, the income earned on the investment of proceeds of the bonds placed in escrow or otherwise.
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California § 53588. (53588. (Added by Stats. 1985, Ch. 1033, Sec. 18.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 1985, Ch. 1033, Sec. 18. Effective September 27, 1985.