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HomeGovernment CodeDiv. 2Pt. 1Ch. 4Art. 7§ 53822 Local Agency Borrowing Limits

§ 53822 Local Agency Borrowing Limits

Government Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 53822 Local Agency Borrowing Limits

Key Takeaways

  • •Local governments (like cities or schools) can borrow money if they need cash before taxes or other income come in.
  • •They can only borrow up to half of the money they expect to get that year.
  • •This is like taking a short loan when you know you’ll get paid soon but need money now.

Example

A city needs money to fix a broken bridge but won’t get tax money until next month.

The city can borrow up to half of the tax money they expect to get this year to fix the bridge now, then pay it back when the taxes come in.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 53822 Local Agency Borrowing Limits

Money may be borrowed on notes, tax anticipation warrants, or other evidences of indebtedness on behalf of the local agency in an amount not to exceed 50 percent of: (a) The revenue from taxes for the current fiscal year or that portion of the taxes not collected at the time of borrowing, where the borrowing is by a county, city, or municipal or public corporation or district, other than a school district, county board of education, or community college district. (b) The estimated income and revenue for the current fiscal year or that portion not collected at the time of borrowing, where the borrowing is by a school district, county board of education, or community college district. (Amended by Stats. 1980, Ch. 447.)

Last verified: January 22, 2026

Key Terms

educationcorporationschoolportcommunityanticipation

Related Statutes

  • § 53825 Borrowing Resolution Requirements
  • § 53823 Short-Term School District Loans
  • § 53832 Tax Revenue Anticipation Loans
  • § 17581.8 School District Funding Allocation
  • § 53820 Local Agency Definitions

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Government Code. Section 53822.
View Official Source