CHAPTER 4. Financial Affairs
Chapter 4 added by Stats. 1949, Ch. 81.
§§ 53600–53997 · 317 sections
ARTICLE 1. Investment of Surplus §§ 53600–53610 · 19 sections
- § 53600 As used in this article, “local agency” means county, city, city and county, including a chartered city or county, school district, community college district,…
- § 53600.3 Except as provided in subdivision (a) of Section 27000.3, all governing bodies of local agencies or persons authorized to make investment decisions on behalf…
- § 53600.5 When investing, reinvesting, purchasing, acquiring, exchanging, selling, or managing public funds, the primary objective of a trustee shall be to safeguard the…
- § 53600.6 The Legislature hereby finds that the solvency and creditworthiness of each individual local agency can impact the solvency and creditworthiness of the state…
- § 53601 This section shall apply to a local agency that is a city, a district, or other local agency that does not pool money in deposits or investments with other…
- § 53601.1 The authority of a local agency to invest funds pursuant to Section 53601 includes, in addition thereto, authority to invest in financial futures or financial…
- § 53601.2 As used in this article, “corporation” includes a limited liability company.
- § 53601.5 The purchase by a local agency of any investment authorized pursuant to Section 53601 or 53601.1, not purchased directly from the issuer, shall be purchased…
- § 53601.6 (a) A local agency shall not invest any funds pursuant to this article or pursuant to Article 2 (commencing with Section 53630) in inverse floaters, range…
- § 53601.8 Notwithstanding any other provision of this code, a local agency that has the authority under law to invest funds, at its discretion, may invest a portion of…
- § 53602 The legislative body shall invest only in notes, bonds, bills, certificates of indebtedness, warrants, or registered warrants which are legal investments for…
- § 53603 The legislative body may make the investment by direct purchase of any issue of eligible securities at their original sale or after they have been issued.
- § 53604 The legislative body may sell, or exchange for other eligible securities, and reinvest the proceeds of, the securities purchased.
- § 53605 From time to time, the legislative body shall sell the securities so that the proceeds may be applied to the purposes for which the original purchase money was…
- § 53606 The bonds purchased, which were issued by the purchaser, may be canceled either in satisfaction or sinking fund obligations or otherwise. When canceled, they…
- § 53607 The authority of the legislative body to invest or to reinvest funds of a local agency, or to sell or exchange securities so purchased, may be delegated for a…
- § 53608 The legislative body of a local agency may deposit for safekeeping with a federal or state association (as defined by Section 5102 of the Financial Code), a…
- § 53609 Notwithstanding the provisions of this chapter or any other provisions of this code, funds held by a local agency pursuant to a written agreement between the…
- § 53610 (a) For purposes of this section, “Proposition 1A receivable” means the right to payment of moneys due or to become due to a local agency, pursuant to clause…
ARTICLE 1.5. Health Fund Investments §§ 53620–53622 · 3 sections
- § 53620 Notwithstanding Section 53601 or 53635, the governing body of a local agency may invest funds designated for the payment of employee retiree health benefits in…
- § 53621 The authority of the governing body to invest or to reinvest funds intended for the payment of employee retiree health benefits, or to sell or exchange…
- § 53622 (a) Funds intended for the payment of employee retiree health benefits shall only be held for the purpose of providing benefits to participants in the retiree…
ARTICLE 2. Deposit of Funds §§ 53630–53686 · 58 sections
- § 53630 As used in this article: (a) “Local agency” means county, city, city and county, including a chartered city or county, a community college district, or other…
- § 53630.1 The Legislature hereby finds that the solvency and creditworthiness of each individual local agency can impact the solvency and creditworthiness of the state…
- § 53630.5 (a) The definitions in Section 1670 of, and Chapter 1 (commencing with Section 99) of Division 1 of, the Financial Code apply to this section. (b) In this…
- § 53631 Under those conditions as the treasurer of a local agency fixes with the approval of the legislative body, he or she may establish accounts at banks within or…
- § 53632 There are three classes of deposits: (a) Inactive deposits. (b) Active deposits. (c) Interest-bearing active deposits.
- § 53632.5 There are three classes of security for deposits: (a) Securities described in subdivision (m) of Section 53651. (b) Securities described in subdivision (p) of…
- § 53633 The treasurer shall determine the amounts of money to be deposited as inactive, active, and interest-bearing active deposits, except as otherwise provided in…
- § 53634 The treasurer may call in money from inactive deposits and place it in active deposits as current demands require. When there is money in his possession for…
- § 53635 (a) This section shall apply to a local agency that is a county, a city and county, or other local agency that pools money in deposits or investments with…
- § 53635.2 As far as possible, all money belonging to, or in the custody of, a local agency, including money paid to the treasurer or other official to pay the principal,…
- § 53635.7 In making any decision that involves borrowing in the amount of one hundred thousand dollars ($100,000) or more, the legislative body of the local agency shall…
- § 53635.8 Notwithstanding any other provision of this code, a local agency that has the authority under law to invest funds, at its discretion, may invest a portion of…
- § 53636 Money so deposited is deemed to be in the treasury of the local agency.
- § 53637 The money shall be deposited in any bank, savings association or federal association, state or federal credit union, or federally insured industrial loan…
- § 53638 (a) The deposit shall not exceed the shareholder’s equity of any depository bank. For the purposes of this subdivision, shareholder’s equity shall be…
- § 53639 (a) Except as otherwise provided in Section 53682, the depository shall bear the expenses of transportation of money to and from the depository. If, pursuant…
- § 53640 Except as otherwise provided in Section 53682, the depository shall handle, collect, and pay all checks, drafts, and other exchange without cost to the local…
- § 53641 When money is deposited in a depository, the treasurer or other authorized official shall take and preserve a receipt, certificate of deposit, or other…
- § 53642 The money deposited may be drawn out by check or order of the treasurer or other official authorized to make such deposit.
- § 53643 The treasurer may deposit any part of the money as agreed upon between the treasurer and the depository.
- § 53644 If an agreement is not made: (a) Active deposits and interest thereon are subject to withdrawal upon the demand of the treasurer or other authorized official,…
- § 53645 Interest shall be computed and paid by the depository, as follows: (a) For active deposits upon which interest is payable, interest shall be computed on the…
- § 53646 (a) (1) In the case of county government, the treasurer may annually render to the board of supervisors and any oversight committee a statement of investment…
- § 53647 (a) Interest on all money deposited belongs to, and shall be paid quarterly into the general fund of, the local agency represented by the officer making the…
- § 53647.5 Notwithstanding any other provision of law, interest earned on any bail money deposited by a court in a bank account pursuant to Section 1463.1 of the Penal…
- § 53648 Notwithstanding this article, the treasurer may deposit moneys in, and enter into contracts with, a state or national bank, savings association or federal…
- § 53648.5 Upon the removal by federal law of the conflicting federal law or rule the agreement between the treasurer or other authorized official and a depository may be…
- § 53649 The treasurer is responsible for the safekeeping of money in his or her custody and shall enter into any contract with a depository relating to any deposit…
- § 53651 Eligible securities are any of the following: (a) United States Treasury notes, bonds, bills or certificates of indebtedness, or obligations for which the…
- § 53651.2 (a) To be an eligible security under subdivision (m) of Section 53651, a promissory note placed in a securities pool on or after January 1, 1987, shall comply…
- § 53651.4 (a) A depository that uses eligible securities of the class described in subdivision (m) of Section 53651 shall, within 90 days after the close of each…
- § 53651.6 (a) To be an eligible security under subdivision (p) of Section 53651, a letter of credit shall be in such form and shall contain such provisions as the…
- § 53652 To secure active or inactive deposits a depository shall at all times maintain with the agent of depository eligible securities in securities pools, pursuant…
- § 53653 When in his or her discretion local conditions so warrant, the treasurer may waive security for the portion of any deposits as is insured pursuant to federal…
- § 53654 (a) The depository may add securities to the pool or substitute securities of equal value for those in the pool at any time, but shall not interchange classes…
- § 53655 A placement of securities by a depository with an agent of depository pursuant to this article shall have the effect of perfecting a security interest in those…
- § 53656 (a) At the time the treasurer enters into a contract with the depository pursuant to Section 53649, he or she shall authorize the agent of depository…
- § 53657 (a) No person shall act as an agent of depository unless that person is a trust company located in this state, the trust department of a bank located in this…
- § 53658 An agent of a depository may hold and pool securities to secure deposits for one or more depositories pursuant to Section 53656, but shall maintain a separate…
- § 53659 Whenever an agent of depository accepts securities pursuant to Section 53656 it may, with the authorization of the depository, place such securities for…
- § 53660 When deposits of a local agency are secured by pooled securities pursuant to Section 53656, the agent of depository shall make available to the treasurer for…
- § 53661 (a) The Commissioner of Financial Protection and Innovation shall act as Administrator of Local Agency Security and shall be responsible for the administration…
- § 53663 (a) Each agent of depository shall report in writing to the administrator within two business days after any withdrawal, substitution, or addition of pooled…
- § 53664 The individual reports specified in Sections 53654, 53660, 53661, and 53663 are not public documents and are not open to inspection by the public.
- § 53665 If a depository fails to pay all or part of the deposits of a local agency secured by pooled securities in accordance with the contract provided for in Section…
- § 53666 The only liability that shall attach to the administrator as the result of the operation of this article is that which would attach as a result of other laws…
- § 53667 (a) Expenses incurred by the administrator in carrying out the duties and responsibilities assigned to the administrator by the sections specified in…
- § 53669 The treasurer or other authorized official is not responsible for money while it is deposited pursuant to this article.
- § 53676 The treasurer is not responsible for securities delivered to and receipted for by any bank, savings and loan association, credit union, federally insured…
- § 53678 The charges for the handling and safekeeping of any such securities are not a charge against the treasurer but shall be paid by the depository owning the…
- § 53679 So far as possible, all money belonging to a local agency under the control of any of its officers or employees other than the treasurer shall, and money…
- § 53679.1 Notwithstanding any other provision of law, the accounting practices of each county utilized prior to the effective date of this section relating to interest…
- § 53680 A tax collector of a local agency shall immediately deposit with the treasurer all money under his control, unless he deposits the money in a depositary…
- § 53681 An officer or employee of a local agency who deposits money belonging to, or in the custody of, the local agency in any other manner than that prescribed in…
- § 53682 Notwithstanding any other provision in this article except Section 53652, the treasurer may deposit moneys in and enter into contracts with any depository, as…
- § 53683 Notwithstanding any other provision in this article, the consideration payable by the agency as specified in subdivision (e) of Section 53682 shall be paid by…
- § 53684 (a) Unless otherwise provided by law, if the treasurer of any local agency, or other official responsible for the funds of the local agency, determines that…
- § 53686 (a) Any audit conducted relating to the investment of local agency funds and other funds by the county treasurer in the county fund maintained pursuant to…
ARTICLE 2.5. Sale of Securities §§ 53690–53692 · 3 sections
- § 53690 For the purposes of this article: (a) “Local agency” means a county, city, city and county, redevelopment agency, public district, joint powers authority, or…
- § 53691 (a) A financial advisory relationship shall be deemed to exist when a broker, dealer, or municipal securities dealer renders, or enters into an agreement to…
- § 53692 In addition to any other requirement imposed by law, at least 15 days prior to the sale of any public securities that exceed one million dollars ($1,000,000)…
ARTICLE 3. Federal Aid §§ 53700–53706 · 7 sections
- § 53700 A county, city, municipal corporation, or district may do any and all things necessary under federal law or rule of a federal department, agency, mandatory, or…
- § 53701 Notwithstanding any other law, except limitations imposed by the Constitution, the legislative body of a county, city, district, political subdivision, or a…
- § 53702 A county, city, district, political subdivision, or a public or municipal corporation, may comply with all applicable requirements of federal laws and…
- § 53703 A county or city may do all acts necessary to participate in all programs authorized by a federal housing act, including the Demonstration Cities and…
- § 53704 A city, county or city and county which has entered into and operated a federal grant program pursuant to the authority contained within Section 53703 may…
- § 53705 A city, county or city and county may appropriate funds and may do all acts necessary to assume and carry out or continue any program, or part thereof, which…
- § 53706 “Priority expenditures” for which the State and Local Fiscal Assistance Act of 1972 (Public Law 92-512) funds may be spent for the purposes authorized by the…
ARTICLE 3.5. Proceeds of Taxes § 53715 · 1 section
- § 53715 As used in Article XIIIB of the California Constitution, the term “proceeds of taxes” does not include the proceeds from the sale of bonds, notes, warrants or…
ARTICLE 3.6. Public Library Special Taxes §§ 53717–53717.6 · 4 sections
- § 53717 (a) Pursuant to Section 4 of Article XIII A of the California Constitution and Article 3.5 (commencing with Section 50075) of Chapter 1 of Part 1 of Division…
- § 53717.2 A tax imposed pursuant to this article is a special tax and not a special assessment, and there is no requirement that the tax be apportioned on the basis of…
- § 53717.4 This article does not apply to any special tax or other charge imposed under Chapter 2.5 (commencing with Section 53311).
- § 53717.6 This article does not apply to any special tax imposed prior to the effective date of this article.
ARTICLE 3.7. Voter Approval of Taxes §§ 53720–53730 · 11 sections
- § 53720 DEFINITIONS. As used in this Article: (a) “local government” means any county, city, city and county, including a chartered city or county, or any public or…
- § 53721 All taxes are either special taxes or general taxes. General taxes are taxes imposed for general governmental purposes. Special taxes are taxes imposed for…
- § 53722 No local government or district may impose any special tax unless and until such special tax is submitted to the electorate of the local government, or…
- § 53723 No local government, or district, whether or not authorized to levy a property tax, may impose any general tax unless and until such general tax is submitted…
- § 53724 (a) A tax subject to the vote requirements prescribed by Section 53722 or Section 53723 shall be proposed by an ordinance or resolution of the legislative body…
- § 53725 (a) Except as permitted in Section 1 of Article XIIIA of the California Constitution, no local government or district may impose any ad valorem taxes on real…
- § 53726 Except as set forth in Section 53727, this Article shall not be construed to repeal or affect any statute enacted prior to August 1, 1985 which authorizes the…
- § 53727 (a) Neither this Article, nor Article XIIIA of the California Constitution, nor Article 3.5 of Division 1 of Title 5 of the Government Code (commencing with…
- § 53728 If any local government or district imposes any tax without complying with the requirements of this Article, or in excess of its authority as clarified by…
- § 53729 This Article may only be amended by vote of the electorate of the State of California.
- § 53730 If any provision of this Article, or the application thereof to any person, organization, local government, district, or circumstance is held invalid or…
ARTICLE 3.8. Hospital Districts: Special Taxes §§ 53730.01–53730.02 · 2 sections
- § 53730.01 A hospital district established pursuant to Division 23 (commencing with Section 32000) of the Health and Safety Code whose hospitals are wholly owned and are…
- § 53730.02 This article does not apply to any special tax imposed prior to January 1, 1989, nor does this article affect the validity of any special tax imposed by a…
ARTICLE 4. Capital Outlay Fund §§ 53730.5–53737 · 7 sections
- § 53730.5 As used in this article, “local agency” means a city, county, or district empowered to levy and collect assessments or taxes.
- § 53731 By ordinance, the legislative body of a local agency may provide for the levy and collection of assessments or taxes for the creation and accumulation of a…
- § 53732 In making a levy, the legislative body shall not exceed any limitation upon its right to impose taxes prescribed by law except as authorized by law.
- § 53733 If the local agency is a city or county operating under a charter, the limitations upon the levying of taxes imposed by the charter apply.
- § 53734 In a local agency required to adopt a budget, all or part of the fund may be shown in the budget as reserves for future expenditures in subsequent years and…
- § 53735 At any time after the creation of the fund the legislative body may transfer to the fund any unencumbered surplus funds remaining on hand at the end of a…
- § 53737 The term “capital outlays” does not include the construction, acquisition, extensions of, or additions to utilities other than utilities for the furnishing of…
ARTICLE 4.3. Local Levies § 53739 · 1 section
- § 53739 (a) An ordinance or resolution presented for voter approval pursuant to this article or to Article XIIIC or XIIID of the California Constitution may state a…
ARTICLE 4.5. Tort Liability Fund §§ 53740–53747 · 8 sections
- § 53740 As used in this article, “local agency” means city, county, or district empowered to levy or assess taxes.
- § 53741 By ordinance, the legislative body of a local agency may provide for the levy and collection of assessments or taxes for the creation and accumulation of a…
- § 53742 In making a levy, the legislative body shall not exceed any limitation upon its right to impose taxes prescribed by law except as authorized by law.
- § 53743 If the local agency is a city or county operating under a charter, any limitations upon the levying of taxes imposed by the charter apply.
- § 53744 In a local agency required to adopt a budget, all or part of the fund may be shown in the budget as reserves for future expenditures in subsequent years and…
- § 53745 At any time after the creation of the fund the legislative body may transfer to the fund any unencumbered surplus funds remaining on hand at the end of the…
- § 53746 The fund shall be used exclusively for the payments of claims, judgments, and legal and investigative costs that may arise under Division 3.6 (commencing with…
- § 53747 This article is applicable only in counties with a population of 4,000,000 or more, as determined by the 1960 federal census.
ARTICLE 4.6. Proposition 218 Omnibus Implementation Act §§ 53750–53758 · 12 sections
- § 53750 For purposes of Article XIIIC and Article XIIID of the California Constitution and this article, the following words have the following meanings, and shall be…
- § 53750.5 (a) The Legislature finds and declares all of the following: (1) Fire service is a different and distinct service from water service, which is one of several…
- § 53750.6 (a) The fees or charges for property-related water service imposed or increased pursuant to Section 6 of Article XIII D of the California Constitution may…
- § 53751 The Legislature finds and declares all of the following: (a) The ongoing, historic drought has made clear that California must invest in a 21st century water…
- § 53752 The Department of General Services shall develop compliance standards in the State Administrative Manual (SAM) to inform owners of state property of their…
- § 53753 (a) The notice, protest, and hearing requirements imposed by this section supersede any statutory provisions applicable to the levy of a new or increased…
- § 53753.5 (a) If an agency has complied with the notice, protest, and hearing requirements of Section 53753, or if an agency is not required to comply with those…
- § 53754 (a) The legislative body collecting assessment installments to secure bonds issued pursuant to the Improvement Bond Act of 1915 (Division 10 (commencing with…
- § 53755 (a) (1) The notice required by paragraph (1) of subdivision (a) of Section 6 of Article XIIID of the California Constitution of a proposed increase of an…
- § 53755.5 When an agency proposes to impose or increase any fee or charge subject to Section 6 of Article XIII D of the California Constitution that is not exempt from…
- § 53756 An agency providing water, wastewater, sewer, or refuse collection service may adopt a schedule of fees or charges authorizing automatic adjustments that pass…
- § 53758 For purposes of Article XIIIC of the California Constitution and this article: (a) “Specific benefit” means a benefit that is provided directly to a payor and…
ARTICLE 4.6.5. Property-Related Fee or Charge Remedy § 53758.5 · 1 section
- § 53758.5 (a) If a court determines that a fee or charge for a property-related service, including water, sewer, and refuse collection, violates Section 6 of Article…
ARTICLE 4.7. Legal Actions Challenging Revenue Measures for Water or Sewer Service §§ 53759–53759.2 · 3 sections
- § 53759 (a) Any judicial action or proceeding to attack, review, set aside, void, validate, or annul an ordinance, resolution, or motion adopting a fee or charge for…
- § 53759.1 (a) For purposes of this section, the following definitions apply: (1) “Exhaustion of remedies requirement” means the written objection requirement under…
- § 53759.2 (a) For purposes of this section, “fee or assessment” means any property-related water or sewer fee or charge, or any special assessment levied or the…
ARTICLE 5. Bankruptcy §§ 53760–53760.9 · 6 sections
- § 53760 A local public entity in this state may file a petition and exercise powers pursuant to applicable federal bankruptcy law if either of the following apply: (a)…
- § 53760.1 As used in this article the following terms have the following meanings: (a) “Chapter 9” means Chapter 9 (commencing with Section 901) of Title 11 of the…
- § 53760.3 (a) A local public entity may initiate the neutral evaluation process if the local public entity is or likely will become unable to meet its financial…
- § 53760.5 Notwithstanding Section 53760.3, a local public entity may file a petition and exercise powers pursuant to applicable federal bankruptcy law, if the local…
- § 53760.7 This article shall not impose any liability or responsibility, in law or equity, upon the state, any department, agency, or other entity of the state, or any…
- § 53760.9 (a) Notwithstanding any other law, including, but not limited to, the California Public Records Act (Division 10 (commencing with Section 7920.000) of Title…
ARTICLE 6. Exceeding the Budget §§ 53790–53792 · 3 sections
- § 53790 Notwithstanding budget limitations and restrictions imposed by law except limitations imposed by the Constitution, a city, county, or district may incur all…
- § 53791 A city, county, or district may make all transfers of money from and to general or special funds necessary to pay expenses incurred pursuant to this article.
- § 53792 By a four-fifths vote of all the members at any regular or special meeting, the legislative body of a city, county, or district may act on behalf of the city,…
ARTICLE 6.5. Building Certificates §§ 53800–53814 · 15 sections
- § 53800 The following terms whenever used in this article have the meanings given in this section except where the context clearly indicates otherwise: (a) “Local…
- § 53801 The board may issue certificates to the investing agency pursuant to this article to obtain funds to pay the cost of public buildings, secure the payment of…
- § 53802 Certificates issued pursuant to this article are negotiable instruments and are transferable between local agencies and state agencies or between such agencies…
- § 53803 The board has no power at any time or in any manner to pledge the credit or taxing power of the local agency.
- § 53804 The preparation of plans and specifications of any public building constructed pursuant to this article shall be the responsibility of the board.
- § 53805 The local agency shall be responsible for the maintenance and repair of all public buildings constructed, acquired or operated by the board.
- § 53806 The certificates shall be authorized by resolutions of the board, and shall bear such dates, mature at such time or times not exceeding 25 years from their…
- § 53807 The certificates shall be sold by the board at their face value to the investing agency. Such certificates are a legal investment by the investing agency…
- § 53808 Any resolutions authorizing the issue of certificates may contain provisions which are part of the contract with the investing agency as to: (a) Pledging all…
- § 53809 The board may provide, by resolution, for the issuance of refunding certificates for the purpose of refunding any certificates of the board issued pursuant to…
- § 53810 The treasurer of the local agency shall act as trustee for the board and the holders of the certificates issued under this article and the board may authorize…
- § 53811 The rights and remedies conferred by this article upon or granted to certificate holders are in addition to and not in limitation of any rights and remedies…
- § 53812 A trustee, appointed pursuant to Section 53811, or acting under a deed of trust, indenture, or other agreement, whether or not all certificates have been…
- § 53813 In addition to all other rights and all other remedies the holder of certificates of the board may by an action at law enforce his rights against the board,…
- § 53814 All money received by the board from whatever source derived, shall be transmitted by the board at least once in every calendar month to the county treasurer,…
ARTICLE 7. Temporary Borrowing §§ 53820–53833 · 16 sections
- § 53820 As used in this article, “local agency” means county, city, regional park district, school district, community college district, or any other municipal or…
- § 53821 Subsequent to approval of the final budget and levy of taxes, if funds are needed for the immediate requirements of a local agency in any fiscal year to pay…
- § 53821.5 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…
- § 53822 Money may be borrowed on notes, tax anticipation warrants, or other evidences of indebtedness on behalf of the local agency in an amount not to exceed 50…
- § 53823 In addition, a school district, county board of education, or community college district may borrow money at any time between July 15th and August 30th of any…
- § 53824 All such notes, tax anticipation warrants, or other evidences of indebtedness shall be issued only after the adoption of a resolution by a four-fifths vote of…
- § 53825 The resolution shall state the necessity for the borrowing and: (a) The amount of revenue from taxes provided for the county, city, or municipal or public…
- § 53826 All such notes, tax anticipation warrants, or other evidences of indebtedness shall be offered at public sale by the legislative body after not less than two…
- § 53827 The sale shall be made to the bidder offering the lowest rate of interest or whose bid represents the lowest net cost to the local agency. Notwithstanding the…
- § 53828 The notes, tax anticipation warrants, or other evidences of indebtedness shall be signed by: (a) The chairman of the board of supervisors and countersigned by…
- § 53829 The repayment of money borrowed by a county, city, or municipal or public corporation or district other than a school district, county board of education, or…
- § 53830 The repayment of money borrowed by any school district, county board of education, or community college district constitutes a first lien and charge against…
- § 53830.5 (a) As to any notes, tax anticipation warrants, or other evidences of indebtedness issued by a school district, county board of education, or community college…
- § 53831 All such notes, tax anticipation warrants, or other evidences of indebtedness issued for funds borrowed prior to December 31st in any fiscal year shall be…
- § 53832 Loans made pursuant to this article shall be made solely for the purpose of anticipating income. In the case of a county, a city, or a municipal or public…
- § 53833 The legislative body of each local agency may include in its budget, separately stated, amounts of anticipated disbursement to meet the interest to be paid on…
ARTICLE 7.4. Securitized Limited Obligations Notes §§ 53835–53839 · 5 sections
- § 53835 As used in this article, “special district” means any agency of the state for the local performance of governmental or proprietary functions within limited…
- § 53836 The powers conferred by this article are in addition to and alternative to any powers conferred by any other law for borrowing by a special district and any…
- § 53837 (a) A special district may borrow money pursuant to this article, the indebtedness to be represented by a securitized limited obligation note or notes issued…
- § 53838 (a) A special district may issue securitized limited obligation notes after the adoption, by a four-fifths vote of all the members of the governing body, of a…
- § 53839 A special district shall not issue any securitized limited obligation notes after December 31, 2024, unless a later enacted statute that is enacted before…
ARTICLE 7.5. Alternate Procedure for Temporary Borrowing §§ 53840–53844 · 6 sections
- § 53840 It is hereby declared the intention of the Legislature by the enactment of this article to provide an alternative procedure under which short term loans may be…
- § 53841 Any amounts borrowed by a county as provided in the preceding section shall not exceed 85 percent of the total of taxes levied for all purposes on said…
- § 53841.5 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…
- § 53842 Amounts borrowed as above provided shall be entered to the credit of the county’s general reserve fund and may be used to make advances to operating funds in…
- § 53843 In any county which finds it necessary to borrow current operating requirements, as provided in the foregoing sections, the board of supervisors shall either:…
- § 53844 In any county which qualifies as set forth in Section 53840 to use the foregoing procedure for short-term financing, all interest payments on the loans may, in…
ARTICLE 7.6. Temporary Borrowing §§ 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…
ARTICLE 7.7. Grant Anticipation Notes §§ 53859–53859.08 · 9 sections
- § 53859 As used in this article: (a) “local agency” means county, city and county, city, school district, community college district, or any other municipal or public…
- § 53859.01 The powers conferred by this article are in addition to and alternative to any powers conferred by any other law for borrowing by a local agency and any amount…
- § 53859.02 (a) A local agency may borrow money pursuant to this article, the indebtedness to be represented by a grant anticipation note or notes issued to the lender…
- § 53859.03 The grant anticipation note or notes shall be issued pursuant to a resolution authorizing the issuance thereof, adopted by the legislative body of the local…
- § 53859.04 Any grant anticipation note issued under this article may be negotiable or may be payable to order or to bearer and may be in any denomination. Except as…
- § 53859.05 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…
- § 53859.06 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…
- § 53859.07 Notwithstanding the provisions of Sections 53854 and 53856, any note issued pursuant to this article to the extent not paid from grant or loan funds of the…
- § 53859.08 A grant or loan anticipation note or notes shall not be issued pursuant to this article in an amount at any time outstanding which shall exceed 95 percent of…
ARTICLE 8. Delinquent Assessment Acquisition and Sales Law of 1915 §§ 53860–53876 · 17 sections
- § 53860 This article may be cited as the “Delinquent Assessment Acquisition and Sale Law of 1915.”
- § 53861 As used in this article, “local agency” means city, county, municipality, or political subdivision.
- § 53862 To the exclusion of other bidders, a local agency may acquire any accrued lien, or property required to be sold for nonpayment of an assessment or delinquency…
- § 53863 The legislative body may designate one of its officers to act for it at the sale.
- § 53864 A lien or property acquired by a local agency pursuant to this article may be released, assigned, sold, or otherwise disposed of by it pursuant to ordinance.
- § 53865 The local agency shall not release, assign, sell or dispose of any such lien or property unless there is first paid to it a sum of money at least equal to the…
- § 53866 If after public notice the lien or property cannot be sold for that total, the legislative body may by a four-fifths vote sell the lien or property for the…
- § 53867 If by resolution adopted by a four-fifths vote the legislative body determines that the property cannot be sold for a sum of money at least equal to the total…
- § 53868 The legislative body shall determine the fair market value of the property or lien and that value is the minimum price receivable on the sale.
- § 53869 By ordinance or resolution the legislative body may provide the notice and the procedure of sale by which the lien or property may be sold and whether the sale…
- § 53870 The notice shall specify: (a) The time and place of sale. (b) The office of the legislative body or clerk thereof where a description of the property may be…
- § 53871 The notice shall be published at least once in a newspaper of general circulation published in the county where is located any part of the property which, or…
- § 53872 The sale shall be not less than twenty-one days after publication of the notice and shall be at public auction.
- § 53873 On the execution of the deed in a sale for cash or on the execution of an agreement for sale in a sale on terms, all rights to redeem the property from…
- § 53874 The deed or agreement is prima facie evidence of regularity of all proceedings from the assessment of the property to and including the execution of the deed…
- § 53875 On default of the purchaser in a sale on terms, the right to redeem is revived.
- § 53876 A local agency may provide and expend a fund or expend money from the general fund to purchase or acquire an accrued lien or property required to be sold for…
ARTICLE 8.5. Notification of Subordinate Interests §§ 53880–53883 · 4 sections
- § 53880 Notwithstanding any other provision of law, before a water district, as defined in Section 20200 of the Water Code, takes an action that will terminate another…
- § 53881 For purposes of this article, a district shall be deemed to have made a reasonable effort to ascertain the names and addresses of each party holding an…
- § 53882 A district that complies with this article shall not be deemed to have denied any party to which notice is required to be given by this article, due process in…
- § 53883 This article applies only to requirements to give notice to third parties and not to existing statutory requirements to give notice to the owner of the real…
ARTICLE 9. Financial Reports §§ 53890–53897 · 14 sections
- § 53890 As used in this article, “local agency” means any city, county, any district, and any community redevelopment agency required to furnish financial reports…
- § 53891 (a) The officer of each local agency who has charge of the financial records shall furnish to the Controller a report of all the financial transactions of the…
- § 53891.1 In lieu of the report required in Section 53891, hospital districts may submit to the Controller copies of any annual financial reports which the hospitals are…
- § 53892 The report shall state all of the following: (a) The aggregate amount of taxes levied and assessed against the taxable property in the local agency, which…
- § 53892.1 For the purpose of permitting the compilation of the financial transactions of school districts by the Controller as required by Section 12463, the…
- § 53892.2 Pursuant to Section 53892, the report shall also contain the following information: (a) For all issues of general obligation bonds, revenue bonds, improvement…
- § 53892.3 Pursuant to Section 53892, the report shall, in the case of cities, also contain the following information: (a) Total expenditures made during the next…
- § 53893 Upon the completion of the report the legislative body shall either post it in a conspicuous location on its Internet Web site, or cause copies of the report…
- § 53894 An officer of a local agency wilfully and knowingly rendering a false report is guilty of a misdemeanor.
- § 53895 (a) An officer of a local agency who fails or refuses to make and file their report within 10 months after the end of the local agency’s fiscal year, or within…
- § 53895.5 (a) An officer of a community redevelopment agency who fails or refuses to make and file his or her report within 20 days after receipt of a written notice of…
- § 53895.7 (a) For the purpose of this section, “agency” means any agency or entity formed pursuant to the Joint Exercise of Powers Act (Article 1 (commencing with…
- § 53896 An officer of a local agency wilfully refusing to make such a report is guilty of a misdemeanor.
- § 53897 Whenever, under the provisions of Section 12463.1, reports of financial transactions are required to be furnished to the Controller from districts which make…
ARTICLE 10. Local Filing of Financial Reports §§ 53900–53901 · 2 sections
- § 53900 As used in this article, “local agency” means city and any district other than school districts required by the Advisory Committee and the Controller to…
- § 53901 Unless exempted by the county auditor 60 days after the beginning of its fiscal year, every local agency, including every special purpose assessing or taxing…
ARTICLE 10.5. Local Agency Internet Posting of Financial Information § 53908 · 1 section
- § 53908 (a) If a local agency, that is required to report to the Controller under Section 53891, maintains an Internet Web site, it shall post, in a conspicuous…
ARTICLE 11. Payment of Claims §§ 53910–53914 · 5 sections
- § 53910 In addition to any other provision of law for the issuance and payment of warrants of any county, city and county, city, district, or other political…
- § 53911 The governing body may authorize the use of check-warrant forms, to be drawn by its appropriate warrant issuing officer or officers upon the custodian of its…
- § 53912 The governing body, or, in the case of school districts not issuing their own warrants, the governing body of the appropriate issuing officer, may provide that…
- § 53913 When authorized by the governing body, the custodian of funds may direct the depository of the funds to pay any warrant drawn upon the custodian upon…
- § 53914 Nothing contained in this chapter (commencing with Section 53910) shall be construed as requiring any county, city and county, city, district or other…
ARTICLE 11.5. Destruction of Bonds Previously Paid and Canceled §§ 53920–53921 · 2 sections
- § 53920 As used in this article: (a) “Local agency” means city, county, or other public or municipal corporation. (b) “Fiscal agent” means any bank within or without…
- § 53921 Under such conditions as the treasurer of a local agency fixes, with the approval of the legislative body, he, or fiscal agents, or other duly authorized…
ARTICLE 12. Proceeds of Sale for Taxes or Assessments §§ 53925–53929.1 · 6 sections
- § 53925 This article shall govern the distribution of proceeds of any sale by a local agency of real property for taxes or special assessments, except where the sale…
- § 53926 There shall first be distributed to the general fund of the agency conducting the sale for its costs, one hundred fifty dollars ($150) for all or any portion…
- § 53927 After satisfaction of the amount specified in Section 53926, the proceeds shall be distributed as follows: (a) An amount of the proceeds up to but no greater…
- § 53928 After satisfaction of the amounts distributed under Sections 53926 and 53927, any excess in the proceeds shall be deposited by the agency conducting the sale…
- § 53929 Any party of interest in the property at the time of sale for taxes or special assessments may file with the agency conducting the sale a claim for excess…
- § 53929.1 This article shall not apply to proceedings under the Improvement Act of 1911 (Division 7 (commencing with Section 5000) of the Streets and Highways Code) and…
ARTICLE 13. Priority of Special Assessment Liens §§ 53930–53937 · 8 sections
- § 53930 The purpose of this article is to make uniform the priority of special assessment liens. Therefore, its provisions shall be controlling over general and…
- § 53931 All special assessments in which the amount thereof is apportioned among the several parcels of land assessed shall constitute a lien in said respective…
- § 53932 From and after the time for filing or recording the assessment, as provided in the law pursuant to which it is levied, it shall impart notice to all persons.
- § 53933 The lien of the special assessment, whether or not bonds have been or are to be issued to represent the unpaid assessments, shall be subordinate to all fixed…
- § 53934 The lien of a reassessment or a refunding assessment shall be the same as the original assessment to which it relates. A supplemental assessment is a new…
- § 53935 The lien of said assessments shall be coequal to and independent of the lien for general taxes, and, except as provided in Section 53936, not subject to…
- § 53936 When, pursuant to any law, the installments of any fixed lien special assessment are collected on the roll on which the general taxes of the local agency which…
- § 53937 All special ad valorem assessments shall have the same priority as taxes, and Section 53936 shall apply to the installments thereof.
ARTICLE 13.5. Payment and Apportionment of Special Assessment Liens §§ 53938–53939 · 3 sections
- § 53938 As used in this article, “transaction” means negotiated purchase and sale, gift, or devise.
- § 53938.5 (a) If property acquired by a public entity in a transaction is encumbered by a lien that secures a special assessment or a bond representing the special…
- § 53939 If property acquired in a transaction is part of a larger parcel encumbered by a lien that secures a special assessment or a bond representing the special…
ARTICLE 14. Pleasure Riding Tax §§ 53940–53947 · 7 sections
- § 53940 This article shall be known and may be cited as the “Pleasure Riding Tax Law.”
- § 53941 The Legislature finds and declares that the owners of pleasure riding animals receive special benefit from the use of public areas designated for use by such…
- § 53942 Pursuant to the provisions of this article, a county or regional park district may levy a countywide or districtwide tax, respectively, on horses, mules, or…
- § 53944 For the purposes of this article, the following animals shall be deemed not to be used substantially for pleasure riding or trail use and shall be exempt from…
- § 53945 Revenue derived from a tax imposed under this article shall be deposited in a special fund in the county treasury or district treasury. Such fund may be…
- § 53946 As a method of collecting a tax imposed under this article, the taxing agency may make payment of the tax a condition precedent to utilization of riders and…
- § 53947 The taxing agency shall provide to the owner of such animal a record of payment, on durable material, for each animal for which a tax is paid under this…
ARTICLE 15. District Revolving Funds §§ 53950–53961 · 12 sections
- § 53950 As used in this article, “special district” shall mean an agency of the state, formed pursuant to general law or special act, for the local performance of…
- § 53951 As used in this article, “special district” shall not include any city, county, school district or special assessment district or any public agency which may…
- § 53952 (a) The governing board of a special district may, by resolution, provide for the establishment of a revolving fund in an amount not to exceed one thousand…
- § 53953 Certified copies of the resolution establishing the revolving fund shall be transmitted to the county auditor and county treasurer.
- § 53954 (a) Before any money is withdrawn from the county treasury to be placed in the revolving fund of a special district, the officer for whose use the fund is…
- § 53955 Upon the receipt of the certified copy of the resolution establishing the revolving fund and the filing of the required bond, the county auditor shall draw his…
- § 53956 The officer designated in the resolution establishing the revolving fund as being entrusted with the fund shall not be authorized to expend any portion of the…
- § 53957 Any expenditure in excess of one dollar ($1) shall not be made unless a receipt is obtained, setting forth the date, purpose of expenditure and amount expended.
- § 53958 Demands shall be made upon the county auditor for reimbursement of the revolving fund in the same manner that other demands are made. No other moneys shall be…
- § 53959 Upon demand of the county auditor or the governing board of the district, the officer entrusted with the fund shall give an account of the fund.
- § 53960 The governing board may at any time increase, reduce or discontinue any revolving fund established by its order. If the revolving fund is ordered reduced, the…
- § 53961 The governing board of a mosquito abatement district or a vector control district organized pursuant to the Mosquito Abatement and Vector Control District Law,…
ARTICLE 16. Police and Fire Protection Funds §§ 53970–53979 · 9 sections
- § 53970 As used in this article, “local agency” means any city, county, or city and county, or a district, public authority, or any other political subdivision in the…
- § 53971 As used in this article, “legislative body” means the city council or board of trustees in the case of a city, the board of supervisors in the case of a county…
- § 53971.3 As used in this article, “police protection services” includes county criminal justice facilities, which shall be limited to, jails, detention facilities, and…
- § 53971.4 (a) As used in this article, “fire protection services” includes, but is not limited to, emergency medical services where provided by a local agency directly…
- § 53971.5 As used in this article, “ordinance” includes “resolution” where the local agency is authorized to act only by resolution.
- § 53972.5 A proposal for the creation of a local agency for the purpose of providing fire protection, prevention, or suppression services directly, by contract with…
- § 53973 The proceedings of any local agency which has, prior to the effective date of this section, adopted by ordinance or resolution, and received voter approval of,…
- § 53978 (a) Any local agency which provides fire protection or prevention services directly, by contract with another local agency, or which provides such services…
- § 53979 (a) Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil Procedure applies to any judicial action or proceeding to validate,…
ARTICLE 17. Community Facilities Plan §§ 53980–53988 · 9 sections
- § 53980 This article shall be known and may be cited as the “Local-State Financial Coordination Act.”
- § 53981 It is the Legislature’s intent that local agencies pursue financing, within the limitations, prescribed by Articles XIIIA and XIIIB of the California…
- § 53982 An action to determine the validity of any resolution, ordinance, agreement, or method of financing authorized or undertaken pursuant to this article or…
- § 53983 Unless the provision or context otherwise requires, the definitions contained in this section shall govern the construction of this article and Article 18…
- § 53984 Any local agency may adopt a plan which shall include, but not be limited to, a component identifying public facilities needed for development within a defined…
- § 53985 It is the specific intent of this article and Article 18 (commencing with Section 53990) to protect the financial integrity of a plan by assuring continued and…
- § 53986 The local agency shall give written notice of the adoption of the plan, and submit copies for delivery, to those state agencies which may be affected as…
- § 53987 A local agency and a state agency may enter into an agreement to coordinate the priority or allocation of state funds to the local agency for state…
- § 53988 On and after the date that an agreement is executed pursuant to Section 53987, or if a local agency adopts a plan which is consistent with a priority list…
ARTICLE 18. Local Tax Allocation Agreements to Implement Community Facilities Plan §§ 53990–53992 · 3 sections
- § 53990 A local agency may enter into an agreement with any other local agency for the allocation of ad valorem taxes for the purpose of implementing the financial…
- § 53991 No state agency shall, on or after the date that a tax allocation agreement is entered into pursuant to Section 53990 alter, defer, or deny priority or…
- § 53992 A local agency and state agency may enter into an agreement to coordinate the priority or allocation of state funds to the local agency or state construction…
ARTICLE 18.5. Division of Property Taxes § 53993 · 1 section
- § 53993 (a) Notwithstanding any other law, except as provided in subdivision (b), for the purpose of any law authorizing the division of taxes levied upon taxable…
ARTICLE 19. Obligation of Contract §§ 53995–53997 · 3 sections
- § 53995 As used in this article: (a) “Financial transaction” means any agreement or arrangement entered into between a local agency or the treasurer of a local agency…
- § 53996 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…
- § 53997 (a) A local agency’s obligation of contract, with regard to a financial transaction, shall commence when the legislative body adopts a resolution formally…