A joint powers entity created pursuant to this chapter may issue revenue bonds pursuant to this article upon authorization by ordinance of only those individual parties to the joint powers agreement which contract to make payments to be applied to the payment of the revenue bonds, provided that the nonparticipating parties to the agreement incur no financial obligations under the issuance.
Cal. Gov. Code § 6547.5
Power to Issue Revenue Bonds
Known as the Joint Exercise of Powers Act
The act spans §§ 6500–6583 (150 sections).
Added by Stats. 1985, Ch. 868, Sec. 3
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.