California Government Code

§ 53550

GOV § 53550 Effective Sep 22, 1992Div. 2 · Title 5 · Part 1 · Ch. 3 · Art. 9

Statute text

The following terms shall have the following meanings:

(a)“Local agency” means public district, public corporation, authority, agency, board, commission, county, city and county, city, school district, or other public entity.

(b)“Bonds” means bonds, warrants, notes or other evidence of indebtedness of a local agency or any improvement district or zone thereof payable, both principal and interest, from the proceeds of ad valorem taxes or ad valorem assessments which may be levied without limitation as to rate or amount upon property in the local agency or any improvement district or zone thereof subject to taxation or assessment, or any outstanding indebtedness payable to the State Board of Equalization as repayment of the local agency’s share of refunds made as a result of the California Court of Appeal decision in Aerospace Corporation v. State Board of Equalization, 218 Cal. App. 3d 1300, which indebtedness is hereby imposed on all the local agencies that are required to participate in the refund obligations arising from this decision and that are declared and determined to have been imposed by law.

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Legislative history

Amended by Stats. 1992, Ch. 802, Sec. 2. Effective September 22, 1992.