§ 26466 Bond Revenue Use Restrictions

Government Code·California

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Key Takeaways

•If the board builds something using money from special bonds, they can't give it away for free.
•Even the government or other public groups have to pay to use it, unless they are employees helping with the project.
•This rule is to make sure the money from bonds is used fairly and not wasted.

Example

The board builds a new toll road using money from bonds.

The board can't let people drive on the road for free, even if they work for the city. Everyone has to pay the toll, unless they are employees working on the road project.

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

Official Source

View on CA.gov

§ 26466 Bond Revenue Use Restrictions

The board may also include in an indenture for the issuance of bonds a clause that no project or the facilities or services thereof acquired, constructed or completed from the proceeds of revenue bonds shall be used without charge therefor or be furnished free of charge to any person, including the State of California or any political subdivision thereof, or any public corporation or individual, other than employees of the board or of another public body actually engaged in rendering service to the board in connection with the project. (Added by Stats. 1947, Ch. 822.)

Last verified: January 22, 2026

Key Terms

corporation agreement employee the board issuance connection

References

Official text at leginfo.legislature.ca.gov
California Legislature. Government Code. Section 26466.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References