§ 19266 Bond Proceeds Tax Exemption
This law says that money raised by selling bonds is not treated like tax money, so the usual limits on how tax money can be spent don't apply to it.
A city wants to build a new community center and decides to raise money by selling bonds instead of raising taxes.
Because the money comes from bonds, the city can spend it on the community center even though there are rules that would limit how much tax money it could use for the project.
AI-generated — May contain errors. Not legal advice. Always verify source.
§ 19266 Bond Proceeds Tax Exemption
Last verified: January 10, 2026