The board of supervisors may loan to any city within its limits which has been incorporated for less than one year an amount not exceeding eighty-five percent (85%) of the city’s anticipated revenues for the fiscal year in which such loan is made. Such loans shall be repaid within the fiscal year in which made.
Cal. Gov. Code § 23010.2
General
Added by renumbering Section 25828 by Stats. 1961, Ch. 84.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.