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HomeGovernment CodeDiv. 2Pt. 1Ch. 6.6§ 54774 County Bond Definitions

§ 54774 County Bond Definitions

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

§ 54774 County Bond Definitions

Key Takeaways

  • •This law explains special words used in this part of the law.
  • •It talks about deals to buy bonds (like loans for the county).
  • •Bonds are like IOUs the county uses to borrow money.
  • •It mentions taxes and money the county gets from taxes.

Example

If a county wants to build a new school but doesn't have enough money, they might sell bonds to get the money they need.

The county makes a deal with a bank to sell these bonds. The money from the bonds helps pay for the school. Later, the county pays back the money using tax money they collect.

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

Official Source
View on CA.gov

§ 54774 County Bond Definitions

The definitions in this section shall govern the construction and interpretation of this chapter: (a) “Bond purchase agreement” means a contractual agreement executed between the county and one or more investment bankers that underwrite the bonds. (b) “Bonds” means evidences of indebtedness, including, but not limited to, bonds, notes, commercial paper, floating rate and variable maturity securities, and certificates of participation. (c) “County” means any county or city and county of this state which has adopted an alternative method of distribution of tax levies and collections of tax sale proceeds authorized pursuant to Sections 4701 to 4717, inclusive, of the Revenue and Taxation Code. (d) “Indenture” means any indenture, trust agreement, or similar document entered into by the county and a trustee or other fiduciary with respect to the bonds. (e) “Tax revenues” means all current or delinquent taxes (and, if a county has made an election under Section 4702.5 of the Revenue and Taxation Code, assessments), redemption amounts, and delinquent penalties for which the county has advanced funds pursuant to Sections 4701 to 4717, inclusive, of the Revenue and Taxation Code. (Added by Stats. 1994, Ch. 293, Sec. 2. Effective July 21, 1994.)

Last verified: January 22, 2026

Key Terms

agreementbondsindenturetax revenuescontractfiduciarysecuritiesfine

Related Statutes

  • § 54778 Bond Issuance Contract Terms
  • § 54780 County Bond Security Trustees
  • § 26362 Contract Bond Payment Requirements
  • § 29550 County Arrest Processing Fees
  • § 31000.3 County Service Contract Deferred Pay

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Government Code. Section 54774.
View Official Source