California Statutes
§ 53996. — 53996. (Added by Stats. 1988, Ch. 346, Sec. 1.)
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. 4. CHAPTER 4. Financial Affairs·Art. 19. ARTICLE 19. Obligation of Contract
The Legislature hereby finds and declares that a local agency’s obligation of contract, as that term is used and interpreted in Section 9 of Article I of the California Constitution, in a financial transaction, commences when the legislative body adopts a resolution officially entering into the contract or when the treasurer, acting on his or her authority, enters into the contract. Therefore, in interpreting Section 9 of Article I of the California Constitution, the Legislature finds and declares that no law may be passed which has the effect of impairing a local agency’s existing obligation of contract with regard to a financial
transaction.
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California § 53996. (53996. (Added by Stats. 1988, Ch. 346, Sec. 1.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 1988, Ch. 346, Sec. 1.