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HomeGovernment CodeDiv. 2Pt. 2Ch. 14Art. 2§ 26320 Bond-Funded Improvement Operations

§ 26320 Bond-Funded Improvement Operations

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

§ 26320 Bond-Funded Improvement Operations

Key Takeaways

  • •If a city or town borrows money by selling bonds to build something (like a park or road), they have to keep running it well.
  • •They can't just build it and then ignore it—they must take care of it properly.
  • •The rule is there to make sure taxpayer money isn’t wasted after the project is done.

Example

A city sells bonds to build a new swimming pool for the community.

After the pool is built, the city can’t just lock the gates and walk away. They have to keep it open, clean, and safe for people to use. If they don’t, they’re breaking the rule.

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

Official Source
View on CA.gov

§ 26320 Bond-Funded Improvement Operations

An indenture may include a clause relating to the bonds issued thereunder requiring the board to continuously operate all improvements acquired, constructed, or completed, in whole or in part, from the proceeds of the bonds in an efficient and economical manner. (Added by Stats. 1947, Ch. 815.)

Last verified: January 22, 2026

Key Terms

agreement

Related Statutes

  • § 26317 Bond Issuance Terms
  • § 26318 Bond Security Covenants
  • § 26319 Bond Payment Requirements
  • § 26321 Bond Maintenance Requirements
  • § 26322 Bondholder Rights Protection Clause

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Government Code. Section 26320.
View Official Source