California § 5403. 5403. (Added by Stats. 1955, Ch. 333.)

California Statutes

§ 5403. — 5403. (Added by Stats. 1955, Ch. 333.)

California § 5403.

JurisdictionCalifornia

Code GOVGovernment Code - GOV

Div.6.

Title 1.DIVISION 6. PUBLIC BONDS AND OBLIGATIONS

Ch. 5.CHAPTER 5. Tax or Assessment Levy for Unsold Bonds

This text of California § 5403. (5403. (Added by Stats. 1955, Ch. 333.)) 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 § 5403. (2026).

Text

When bonds to be issued by or on behalf of a public body have been authorized by an election or other method provided by law, and where it is expected that all or any part of such bonds will be sold at such time that principal or interest on such bonds will become due before the proceeds of a tax or assessment levied after such sale would be available to pay such principal or interest, the governing body, at the time of fixing the annual tax or assessment levy, may levy a tax or assessment, as the case may be, in an amount clearly sufficient to pay that portion of the principal of and interest on said bonds which it is expected will become due before the proceeds of the next succeeding tax or assessment levy will be available.

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When bonds to be issued by or on behalf of a public body have been authorized by an election or other method provided by law, and where it is expected that all or any part of such bonds will be sold at such time that principal or interest on such bonds will become due before the proceeds of a tax or assessment levied after such sale would be available to pay such principal or interest, the governing body, at the time of fixing the annual tax or assessment levy, may levy a tax or assessment, as the case may be, in an amount clearly sufficient to pay that portion of the principal of and interest on said bonds which it is expected will become due before the proceeds of the next succeeding tax or assessment levy will be available.