California Government Code ARTICLE 7.5 - Alternate Procedure for Temporary Borrowing

• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 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:(1) Advertise for...
• Section 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...

Last modified: October 22, 2018