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HomeGovernment CodeDiv. 2Pt. 1Ch. 4Art. 6.5§ 53808 Local Agency Revenue Certificates

§ 53808 Local Agency Revenue Certificates

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

§ 53808 Local Agency Revenue Certificates

Key Takeaways

  • •This law lets local governments make promises to people who lend them money for big projects like buildings.
  • •They can promise to use money from things like rent or fees to pay back the loan.
  • •They can set rules on how much to charge for using the building or services.
  • •They can also set aside money for emergencies or to pay back the loan later.

Example

A city wants to build a new library but doesn’t have enough money. They borrow money from investors by selling certificates (like IOUs).

The city promises to use the money from library rentals or fees to pay back the investors. They also agree not to charge too little for library services so they can always pay back the loan.

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

Official Source
View on CA.gov

§ 53808 Local Agency Revenue Certificates

Any resolutions authorizing the issue of certificates may contain provisions which are part of the contract with the investing agency as to: (a) Pledging all or any of the revenues, rentals, or receipts of the local agency from specific properties. (b) The construction or acquisition of any public building and the duties of the board with reference thereto. (c) The terms and provisions of the certificates. (d) Limitations on the purposes to which the proceeds of the certificates, then or thereafter to be issued may be applied. (e) The rate of rentals and other charges for use of the public buildings of, or for the services rendered by, the board, including limitations upon the power of the board to modify any leases or other agreements pursuant to which any rentals or other charges are payable. (f) The setting aside of reserves or sinking funds and the regulation and disposition of them. (g) Limitations on the issuance of additional certificates. (h) Any other agreements with the certificate holders. (Added by Stats. 1959, Ch. 2070.)

Last verified: January 22, 2026

Key Terms

acquisitionregulationcontractagreementresolutionleaseissuanceconstruction

Related Statutes

  • § 53811 Certificate Holder Remedies
  • § 54702.4 Bond Terms And Conditions
  • § 15827 Certificate Holder Remedies
  • § 15819.70 Veterans Home Construction Funding
  • § 53982 Challenging Local Financing Actions

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Government Code. Section 53808.
View Official Source