California Government Code

§ 54240

GOV § 54240Div. 2 · Title 5 · Part 1 · Ch. 5 · Art. 9

Statute text

As used in this article:

(a)“Local agency” means any county, city, city and county, public district, public entity or authority or other public or municipal corporation other than the federal government or any federal department or agency, this state, an adjoining state, any state department or agency or any school district in the state.

(b)“Public leaseback” means any lease, sublease, contract or other agreement involving land or buildings, structures, or other facilities which are permanently attached to land, where the agreement is made directly or indirectly between the local agency and a public leaseback corporation, if the proceeds of the agreement provided by the local agency will be used in whole or in part by such public leaseback corporation for payment of principal of or interest on its bonds, notes or other evidences of indebtedness.

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Legislative history

Added by Stats. 1972, Ch. 304.