The repayment of money borrowed by a county, city, or municipal or public corporation or district other than a school district, county board of education, or community college district constitutes a first lien and charge against the taxes levied for the fiscal year in which it was borrowed and shall be repaid from the first money received by the county, city, or municipal or public corporation or district other than a school district, county board of education, or community college district from the taxes.
Cal. Gov. Code § 53829
Temporary Borrowing
Applied in 1 court decision — leading case Alliance Capital Management L.P. v. County of Orange (In Re County of Orange) (1995)
Most recently applied in Alliance Capital Management L.P. v. County of Orange (In Re County of Orange) (July 1995)
Amended by Stats. 1980, Ch. 447.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.