Gov. Code, § 53859 · Article 7.7. Grant Anticipation Notes
Gov. Code, § 53859
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
As used in this article: (a) “local agency” means county, city and county, city, school district, community college district, or any other municipal or public corporation or district.
(b) “Grant anticipation note” means a note issued upon the security of specified accounts receivable from state or federal governments, including, without limitation, grants, loans, or a combination of both, for which funds have been appropriated and committed to a local agency.
(c) “Loan” includes, but is not limited to, a borrowing by a local agency represented or to be represented by bonds of a local agency.
Notes and commentary — not statutory text
History
Amended by Stats. 1978, Ch. 637.
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=53859.
- Text hash
- sha256 f5fd8cc0f0fb48cb39f67687cc9444d0e9d5eada1f325a100b4cd2875c2dad7a
- 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.