Gov. Code, § 64823 · Article 2. Bonds
Gov. Code, § 64823
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) The agency or any person executing the bonds issued pursuant to this title shall not be personally liable on the bonds by reason of their issuance.
(b) The bonds and other obligations of the agency are not a debt of any city or Los Angeles County, or any of its affiliated entities, or of the state or of any of its political subdivisions, other than the agency, and neither a city or county nor the state or any of its political subdivisions, other than the agency, shall be liable on the bonds, and the bonds or obligations shall be payable exclusively from funds or properties of the agency, as specified in the applicable bond or other debt instrument. Bonds issued pursuant to this title shall contain a statement to this effect on their face.
(c) If the signature of any member of the agency or staff member of the agency appears on bonds issued pursuant to this title, and that individual ceases to be a member of the agency or staff member of the agency before delivery of the bonds, that member’s signature shall be as effective as if the member had remained in office.
Notes and commentary — not statutory text
History
Added by Stats. 2022, Ch. 661, Sec. 1. (SB 679) Effective January 1, 2023.
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=64823.
- Text hash
- sha256 b3b156ec66cefbd450c4e960c44348afa2e1e9c2aacce1e8d1a33f622b3ff576
- 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.