§ 50715 Local Agency Revenue Bonds

• •The board can sell special bonds to raise money for a project.
• •These bonds are only paid back using money from the project, not from the local agency or the state.
• •The bonds must clearly say that the local agency or the state is not responsible for paying them back.

A city wants to build a new park but doesn't have enough money.

The city can sell special bonds to get the money for the park. The people who buy the bonds get paid back only from the money the park makes, like from entrance fees or renting out space. The city or the state doesn't have to pay if the park doesn't make enough money.