Statute · California Government Code
Cal. Gov't Code § 53588 — Provisions Applicable to All Refunding Bonds of All Local Agencies
Cal. Gov't Code § 53588
- Type
- Statute
- Source
- California Government Code
- Jurisdiction
- California
- Date
- 1985-09-27
- Current through
- Nov 2, 2026 (California Legislative Counsel)
The issuance, transfer, and interest income earned on any bonds issued by a local agency under this article is exempt from taxation of every kind by any state or local entity. The local agency shall not be required to pay any taxes on, or with respect to, the income earned on the investment of…
Citator
Cal. Gov't Code § 53588 — 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.
The issuance, transfer, and interest income earned on any bonds issued by a local agency under this article is exempt from taxation of every kind by any state or local entity. The local agency shall not be required to pay any taxes on, or with respect to, the income earned on the investment of proceeds of the bonds placed in escrow or otherwise.