There is hereby created in the State Treasury a Local Agency Emergency Loan Fund. Short-term loans shall be available to local agencies for the purpose of meeting operating costs at the end of the 1977–78 fiscal year and during the 1978–79 fiscal year. Such funds shall not be used for capital outlay projects.
Cal. Gov. Code § 16493.5
Local Agency Emergency Loan Fund
Applied in 1 court decision — leading case Pasadena Redevelopment Agency v. Pooled Money Investment Board (1982)
Most recently applied in Pasadena Redevelopment Agency v. Pooled Money Investment Board (September 1982)
Added by Stats. 1978, Ch. 292.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.