California Government Code ARTICLE 7.7 - Grant Anticipation Notes

• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...

Last modified: October 22, 2018