California Government Code ARTICLE 7 - Temporary Borrowing

• Section 53820.
  As used in this article, “local agency” means county, city, regional park district, school district, community college district, or any other municipal or public corporation...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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 corporation...
• Section 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...
• Section 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...
• Section 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 the auditor...
• Section 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,...
• Section 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 the...
• Section 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 district...
• Section 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...
• Section 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...
• Section 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...

Last modified: October 22, 2018