Cal. Financial Code § 7268
Cal. Financial Code § 7268
California · California Financial Code · Status: effective
Cite this
- Citation
- Cal. Financial Code § 7268, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/814151
- Permanent ID
ys:prov:814151@1- SHA-256
15e363d1bc3f3436fa20aa7877cb5bd233695ded6c28447bd9696536cc42d1d4
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) Notes with a maturity not exceeding 15 months after the date of issue, issued in anticipation of uncollected taxes, income, revenue, cash receipts, and other moneys of the State of California or any city, county, city and county, or school district, therefore, provided the notes and warrants and the interest thereon shall be a first lien and charge against, and shall be payable from, the first moneys received by the local agency from the pledged moneys, provided the total amount of the notes issued at any one time or during any specified period does not exceed 85 percent of the receipts or revenues.
(b) Grant anticipation notes issued by the agencies and payable not later than 36 months after the date of issue, provided that the total amount of the notes and interest payable thereon issued at any one time or during any specified period does not exceed 80 percent of the grant funds stated in writing by the granting authority as committed, appropriated and shall be paid on a specified date or dates within a 36-month period from the dating of the notes.