ARTICLE 7.6. Temporary Borrowing
Article 7.6 repealed and added by Stats. 1963, Ch. 748.
§§ 53850–53858 · 11 sections
- § 53850 (a) As used in this article, “local agency” means a county, city and county, city, school district of any type, community college district, county board of…
- § 53851 The powers conferred by this article are in addition to and an alternative to any power conferred by any other law for borrowing by a local agency and any…
- § 53852 On or after the first day of any fiscal year a local agency may borrow money pursuant to this article, the indebtedness to be represented by a note or notes…
- § 53852.5 Proceeds of sales or funds set aside for the repayment of any notes issued pursuant to this article shall not be invested for a term that exceeds the term of…
- § 53853 (a) The note or notes shall be issued pursuant to a resolution adopted by the legislative body of the local agency authorizing the issuance of the note or…
- § 53854 Any note issued under this article may be negotiable, may be payable to order or to bearer and may be in any denomination. Such note shall be payable not later…
- § 53855 The resolution authorizing the issuance of any note may provide that such note shall be subject to call and redemption prior to maturity, at the option of the…
- § 53856 Any taxes, income, revenue, cash receipts, or other moneys of the local agency, including moneys deposited in inactive or term deposits, may be pledged to the…
- § 53856.1 (a) The Board of Supervisors of Orange County, in the resolution authorizing the issuance of any note or notes, may provide that the board elects to guarantee…
- § 53857 Notwithstanding the provisions in Section 53856, any note issued pursuant to this article shall be a general obligation of the local agency, and, to the extent…
- § 53858 Notes shall not be issued pursuant to this article in any fiscal year in an amount which, when added to the interest payable thereon, shall exceed 85 percent…