Statute · California Government Code
Cal. Gov't Code § 53584.1 — Provisions Applicable to All Refunding Bonds of All Local Agencies
Cal. Gov't Code § 53584.1
- Type
- Statute
- Source
- California Government Code
- Jurisdiction
- California
- Date
- 1995-05-15
- Current through
- Nov 2, 2026 (California Legislative Counsel)
In issuing refunding bonds to honor warrants to school districts, community college districts, and other local agencies in settlement of bankruptcy, the Board of Supervisors of Orange County may provide in the resolution authorizing the issuance of those refunding bonds for the pledge of any…
Citator
Cal. Gov't Code § 53584.1 — Provisions Applicable to All Refunding Bonds of All Local Agencies is in force in the current edition of the Code, and nothing recorded condemns it.
In issuing refunding bonds to honor warrants to school districts, community college districts, and other local agencies in settlement of bankruptcy, the Board of Supervisors of Orange County may provide in the resolution authorizing the issuance of those refunding bonds for the pledge of any taxes, income, revenue, cash receipts, rents, or other moneys of Orange County, including moneys deposited in inactive or term deposit accounts, or rights to receive the same, to the extent that the taxes, income, revenue, cash receipts, rents, or other moneys could have been used to pay principal or interest on the refunded bonds. The priority and perfection of the pledge shall be governed by Chapter 5.5 (commencing with Section 5450) of Division 6 of Title 1.