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HomeFinancial CodeDiv. 2Ch. 6Art. 2.5§ 7262 Public Corporation Bond Eligibility

§ 7262 Public Corporation Bond Eligibility

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 7262 Public Corporation Bond Eligibility

Key Takeaways

  • •This law is about bonds (like loans) for big projects to control floods and save water.
  • •Only certain places with lots of valuable property (over $1 million) can use these bonds.
  • •Cities, counties, and special districts (like water or transit districts) can use these bonds, but not all of them.
  • •Some bonds might not be allowed for banks to invest in if the government says so.

Example

A city wants to build a big dam to stop floods and save water for farms.

The city can ask for money by selling bonds to pay for the dam. But if the city doesn’t have enough valuable property (like buildings and land worth over $1 million), they can’t use these bonds. Also, if the government says banks can’t invest in these bonds, the city might have a harder time getting the money.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 7262 Public Corporation Bond Eligibility

Bonds of any flood control and water conservation districts, or any zone thereof, having an assessed valuation on taxable real property of not less than one million dollars ($1,000,000), county, city and county, city, metropolitan water district, municipal utility district, any special district established by and within any municipal utility district, transit district, rapid transit district, including sales tax revenue bonds of that district of the State of California (herein referred to generally as public corporations) except the bonds of any particular such public corporation which may be declared ineligible for investment by commercial banks by regulations of the commissioner. (Amended by Stats. 1996, Ch. 1064, Sec. 553. Effective January 1, 1997. Operative July 1, 1997.)

Last verified: January 23, 2026

Key Terms

corporationcommissionpropertyregulationutilityoperative julyconservationvaluation

Related Statutes

  • § 7263 Public Corporation Bond Limits
  • § 7274 Utility Bond Requirements
  • § 31406 Licensee Business Control Limits
  • § 7252 Savings Association Service Investments
  • § 7264 Foreign Government Bond Exemptions

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 7262.
View Official Source