2022 California Government Code 16494 – The amount of any loan shall not exceed 50 percent of the local …
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The amount of any loan shall not exceed 50 percent of the local agency‘s property tax revenues for the 1977-78 fiscal year, including state property tax relief subventions. The maximum amount of a loan to a local agency which was formed during the 1977-78 fiscal year and authorized to levy a property tax, but did not do so, shall be no more than 50 percent of the amount such agency could have levied if it had levied such a tax.
(Added by Stats. 1978, Ch. 292.)