California Public Resources Code

§ 5790.17

PRC § 5790.17 Effective Jan 1, 2002Div. 5 · Ch. 4 · Art. 11

Statute text

If a district dissolves after incurring a general obligation indebtedness, the property in the territory that constituted the district at the time of its dissolution shall continue to be subject to tax sufficient to pay any principal, interest, and any other amounts owning on account of that obligation, as they become due. Any order of dissolution pursuant to the Cortese-Knox-Hertzberg Local Government Reorganization Act of 2000, Part 1 (commencing with Section 56000) of Division 3 of Title 5 of the Government Code shall impose that obligation.

Legislative history

Added by Stats. 2001, Ch. 15, Sec. 4. Effective January 1, 2002.