§ 53530 Local Agency Bond Definitions

• •This law defines who 'local agency' means. It includes cities, counties, and other public groups like housing authorities.
• •It also explains what 'bonds' are. Bonds are like IOUs that these local groups use to borrow money.

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

The city can issue bonds, which are like loans from people or banks. The city promises to pay the money back later with a little extra. This law says who can do this and what these loans are called.