§ 26351 District Revenue Bond Authority

• •Special areas (districts) can borrow money by selling bonds to build or buy things like parks or buildings.
• •The money to pay back these bonds comes from the money made by whatever they build or buy (like fees from using a park).
• •The rules for how they do this are the same as the rules in the Revenue Bond Law of 1941.
• •This law was added in 1959.

A small town wants to build a new community pool but doesn't have enough money right now.

The town can sell bonds (like IOUs) to get the money to build the pool. Then, they use the money people pay to swim at the pool to pay back those bonds over time.