GroundRules
GOV § 53837
Where this section sits in the code
- Government Code - GOV
- TITLE 5. LOCAL AGENCIES [50001. - 57607.]
- DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES [53000. - 55821.]
- PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES [53000. - 54999.7.]
- CHAPTER 4. Financial Affairs [53600. - 53997.]
- ARTICLE 7.4. Securitized Limited Obligations Notes [53835. - 53839.]
(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 to the lender pursuant to this article.
(b) The money borrowed may be used and expended by the special district solely for the acquisition or improvement of land, facilities, or equipment.
(c) Any note issued pursuant to this article shall be exempt from all taxation within the state.
Collected 2026-09-14T05:56:33Z. Source file · JSON