This article applies to all local agencies which have the power to issue general obligation bonds to acquire, construct or finance a revenue-producing facility.

(Added by Stats. 1961, Ch. 1157.)

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Terms Used In California Government Code 53501

  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Revenue-producing facility: means an improvement, works, system or facility furnishing or providing services or products for which the local agency is authorized to impose a charge. See California Government Code 53500
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