California § 53859.06. 53859.06. (Amended by Stats. 1978, Ch. 637.)

California Statutes

§ 53859.06. — 53859.06. (Amended by Stats. 1978, Ch. 637.)

California § 53859.06.

JurisdictionCalifornia

Code GOVGovernment 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. 4.CHAPTER 4. Financial Affairs

Art. 7.7.ARTICLE 7.7. Grant Anticipation Notes

This text of California § 53859.06. (53859.06. (Amended by Stats. 1978, Ch. 637.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Government Code - GOV Code § 53859.06. (2026).

Text

Grant or loan funds from the state or federal government for any legally authorized capital improvement for which the local agency is authorized to expend moneys, when stated by the granting or loaning authority to be committed, appropriated and payable to the local agency on a specified date or dates, or event or events, shall be pledged for the payment of the grant anticipation note or notes and the interest thereon. The note or notes and the interest thereon are a first lien upon and charge against the grant or loan funds.

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Grant or loan funds from the state or federal government for any legally authorized capital improvement for which the local agency is authorized to expend moneys, when stated by the granting or loaning authority to be committed, appropriated and payable to the local agency on a specified date or dates, or event or events, shall be pledged for the payment of the grant anticipation note or notes and the interest thereon. The note or notes and the interest thereon are a first lien upon and charge against the grant or loan funds.