Statute · California Government Code
Cal. Gov't Code § 53837 — Securitized Limited Obligations Notes
Cal. Gov't Code § 53837
- Type
- Statute
- Source
- California Government Code
- Jurisdiction
- California
- Date
- 2005-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) A special district may borrow money pursuant to this article, the indebtedness to be represented by a securitized limited obligation note or notes issued to the lender pursuant to this article.
Citator
Cal. Gov't Code § 53837 — Securitized Limited Obligations Notes is in force in the current edition of the Code, and nothing recorded condemns it.
(a) A special district may borrow money pursuant to this article, the indebtedness to be represented by a securitized limited obligation note or notes issued to the lender pursuant to this article.
(b) The money borrowed may be used and expended by the special district solely for the acquisition or improvement of land, facilities, or equipment.
(c) Any note issued pursuant to this article shall be exempt from all taxation within the state.