California Streets and Highways Code

§ 5334

SHC § 5334Div. 7 · Part 3 · Ch. 14.5

Statute text

When bonds are to be issued to represent unpaid assessments against a possessory interest created by a lease in Indian-owned property, the term of the lease remaining at the time of issuance shall exceed, by at least 15 years, the term of the bonds issued. If bonds are to be issued to represent assessments against such a possessory interest, the legislative body shall so declare in the resolution of intention.

Legislative history

Added by Stats. 1978, Ch. 970.