§ 26346 Bond Revenue Lien Authority

Key Takeaways

•This law lets a group (like a city or company) borrow money by selling bonds to build or buy something big, like a park or building.
•The money made from that thing (like park fees or building rent) can be used to pay back the loan.
•If they don’t pay back the money, the people who lent it can take the money made from that thing to get their money back.

Example

A city wants to build a new park but doesn’t have enough money.

The city can sell bonds (like IOUs) to get the money to build the park. The money from park fees or rentals will be used to pay back the people who bought the bonds. If the city doesn’t pay, the bondholders can take the park’s money to get their cash back.

The board may provide in the proceedings for the issuance of bonds that the bonds and the interest thereon constitute such lien upon the revenues of any project acquired, constructed or completed from the proceeds thereof as may be provided for in the indenture. (Added by Stats. 1947, Ch. 815.)

Key Takeaways

•This law lets a group (like a city or company) borrow money by selling bonds to build or buy something big, like a park or building.
•The money made from that thing (like park fees or building rent) can be used to pay back the loan.
•If they don’t pay back the money, the people who lent it can take the money made from that thing to get their money back.

Example

A city wants to build a new park but doesn’t have enough money.

Key Takeaways

Example

Key Terms

References

§ 26346 Bond Revenue Lien Authority

Key Takeaways

Example

Key Terms

References

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References