California Government Code 53801 – The board may issue certificates to the investing agency pursuant to …
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The board may issue certificates to the investing agency pursuant to this article to obtain funds to pay the cost of public buildings, secure the payment of certificates and interest thereon by pledging all or part of its revenues, rentals, and receipts, and provide for the security of the certificates and the rights of the holders thereof. The board may also obtain insurance against loss by fire or other hazards on public buildings, both during and after construction and obtain insurance against loss of revenues from any cause whatsoever, for the protection of the certificate holders.
(Added by Stats. 1959, Ch. 2070.)
Terms Used In California Government Code 53801
- Board: means the legislative body of the local agency. See California Government Code 53800
- Construction: includes the extension, enlargement, repair, renovation, restoration, improvement, and equipping of any public building. See California Government Code 53800
- Investing agency: means the Public Employees' Retirement System, as defined by Section 20004. See California Government Code 53800