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