§ 53832 Tax Revenue Anticipation Loans

• •This law is about loans for governments or public groups to get money before they actually receive it.
• •Cities, counties, and some public groups can only get these loans if they promise to pay it back with tax money from that same year.
• •Schools and college districts can get these loans if they promise to pay it back with any income or money they expect to get that year.

A city needs money to fix a broken bridge in June but won't get tax money until December.

The city can take a loan in June and promise to pay it back with the tax money they will get in December. This loan is only allowed if they are sure the tax money will come in that same year.