Any general obligation bonds issued by a district shall have the same force, value, and use as bonds issued by a city and the bonds and interest on the bonds are exempt from all taxation within the State of California.
Cal. Pub. Res. Code § 5790.9
General Obligation Bonds
Known as the Recreation and Park District Law
The act spans §§ 5780–5796 (98 sections).
Added by Stats. 2001, Ch. 15, Sec. 4
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.