California Government Code 54244 – Section 54241 shall not apply to any public leaseback which is …
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Section 54241 shall not apply to any public leaseback which is executed prior to the effective date of Section 54241.
(Added by Stats. 1972, Ch. 304.)
Terms Used In California Government Code 54244
- Public leaseback: means any lease, sublease, contract or other agreement involving land or buildings, structures, or other facilities which are permanently attached to land, where the agreement is made directly or indirectly between the local agency and a public leaseback corporation, if the proceeds of the agreement provided by the local agency will be used in whole or in part by such public leaseback corporation for payment of principal of or interest on its bonds, notes or other evidences of indebtedness. See California Government Code 54240