TITLE 5. LOCAL AGENCIES 50001-57550›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. Temporary Borrowing 53820-53833
§ 53822
California Government Code · 2018-11 edition · updated 2026-10-04 · California
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 exceed 50 percent of:
(a) The revenue from taxes for the current fiscal year or that portion of the taxes not collected at the time of borrowing, where the borrowing is by a county, city, or municipal or public corporation or district, other than a school district, county board of education, or community college district.
(b) The estimated income and revenue for the current fiscal year or that portion not collected at the time of borrowing, where the borrowing is by a school district, county board of education, or community college district.
(Amended by Stats. 1980, Ch. 447.)
Get a plain-English answer with a citation back to this text.
Ask AI about this code