§ 53500 Local Agency Bond Definitions

As used in this article: (a) “Local agency” means county, city, city and county, public district, or other public or municipal corporation. (b) “General obligation bonds” means bonds, warrants, notes or other evidence of indebtedness of a local agency payable, both principal and interest, from the proceeds of ad valorem taxes or ad valorem assessments which may be levied without limitation as to rate or amount upon property in the local agency subject to taxation or assessment. (c) “Legislative body” means the legislative body of the local agency as defined in Section 53000. (d) “Revenue-producing facility” means an improvement, works, system or facility furnishing or providing services or products for which the local agency is authorized to impose a charge. (e) “Pledge” means pledge, assign, place a charge upon and place a lien upon. (Added by Stats. 1961, Ch. 1157.)