Subject to the provisions of Section 54516.1, the local agency shall prescribe, revise, and collect such charges that the services, facilities or water of the enterprise are furnished at the lowest possible cost consistent with sound economy, and prudent management, and the security and payment of the principal and interest of the bonds.
Cal. Gov. Code § 54514
Duties of Local Agencies
Known as the Revenue Bond Law
The act spans §§ 54300 to 54700 (157 sections).
Applied in 1 court decision — leading case 42 Cal. 3d 1172 - Hansen v. City of San Buenaventura (1986)
Most recently applied in 42 Cal. 3d 1172 - Hansen v. City of San Buenaventura (December 1986)
Amended by Stats. 1970, Ch. 1174.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.