Statute · California Government Code
Cal. Gov't Code § 53996 — Obligation of Contract
Cal. Gov't Code § 53996
- Type
- Statute
- Source
- California Government Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
The Legislature hereby finds and declares that a local agency’s obligation of contract, as that term is used and interpreted in Section 9 of Article I of the California Constitution, in a financial transaction, commences when the legislative body adopts a resolution officially entering into the…
Citator
Cal. Gov't Code § 53996 — Obligation of Contract is in force in the current edition of the Code, and nothing recorded condemns it.
The Legislature hereby finds and declares that a local agency’s obligation of contract, as that term is used and interpreted in Section 9 of Article I of the California Constitution, in a financial transaction, commences when the legislative body adopts a resolution officially entering into the contract or when the treasurer, acting on his or her authority, enters into the contract. Therefore, in interpreting Section 9 of Article I of the California Constitution, the Legislature finds and declares that no law may be passed which has the effect of impairing a local agency’s existing obligation of contract with regard to a financial transaction.