Cal. Government Code § 5652
Cal. Government Code § 5652
California · California Government Code · Status: effective
Cite this
- Citation
- Cal. Government Code § 5652, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/831925
- Permanent ID
ys:prov:831925@1- SHA-256
8030aa8136a08ce3eed8ac764030dda0036c3a3b286120473980901b91202dd3
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
No public body shall enter into any contract which provides that such public body shall be furnished any report relating to the financial feasibility of any public project or of the issuance or sale of any public securities if:
(1) such contract is entered into with any person engaged in the business of rating public securities and distributing information concerning such rating to the public, unless such contract provides that no rating will thereafter be given or assigned for a period of two years by such person on any security issued, or to be issued, by said public body or any entity to which it is a party;
(2) payment for any services provided for in such contract is contingent upon a finding in such report that the public undertaking or the issuance or sale of any public securities is financially feasible; or (3) the contract fails to provide that it is for personal services and nonassignable. Nothing in this section shall prohibit any public body from entering into a contract solely for a rating.