Gov. Code, § 53837 · Article 7.4. Securitized Limited Obligations Notes
Gov. Code, § 53837
Verbatim from the official edition
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(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.
Notes and commentary — not statutory text
History
Added by Stats. 2004, Ch. 114, Sec. 1. Effective January 1, 2005.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=GOV§ionNum=53837.
- Text hash
- sha256 2fa5b15ddce780c0087b66018cc97f5ca63dabaf613d78ac4eea0e7c1dd8c056
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.