California § 5790.17. 5790.17. (Added by Stats. 2001, Ch. 15, Sec. 4.)

California Statutes

§ 5790.17. — 5790.17. (Added by Stats. 2001, Ch. 15, Sec. 4.)

California·Code PRC Public Resources Code - PRC·Div. 5. DIVISION 5. PARKS AND MONUMENTS·Ch. 4. CHAPTER 4. Recreation and Park Districts·Art. 11. ARTICLE 11. General Obligation Bonds

If a district dissolves after incurring a general obligation indebtedness, the property in the territory that constituted the district at the time of its dissolution shall continue to be subject to tax sufficient to pay any principal, interest, and any other amounts owning on account of that obligation, as they become due.  Any order of dissolution pursuant to the Cortese-Knox-Hertzberg Local Government Reorganization Act of 2000, Part 1 (commencing with Section 56000) of Division 3 of Title 5 of the Government Code shall impose that obligation.

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If a district dissolves after incurring a general obligation indebtedness, the property in the territory that constituted the district at the time of its dissolution shall continue to be subject to tax sufficient to pay any principal, interest, and any other amounts owning on account of that obligation, as they become due. Any order of dissolution pursuant to the Cortese-Knox-Hertzberg Local Government Reorganization Act of 2000, Part 1 (commencing with Section 56000) of Division 3 of Title 5 of the Government Code shall impose that obligation.

California § 5790.17. (5790.17. (Added by Stats. 2001, Ch. 15, Sec. 4.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.