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HomeGovernment CodeDiv. 6Ch. 11§ 5902 Government Financial Definitions

§ 5902 Government Financial Definitions

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

§ 5902 Government Financial Definitions

Key Takeaways

  • •This section defines special words used in the law, like 'bonds' and 'legislative body'.
  • •'Bonds' means money the government borrows, like loans or notes.
  • •'Legislative body' means the group of people who make rules for the government, like city council or state leaders.
  • •'State or local government' includes the state and all its parts, like cities, counties, and public agencies.

Example

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

The city might borrow money by selling 'bonds' (like a loan) to pay for the park. The 'legislative body' (like the city council) decides if this is okay. The city is part of the 'state or local government' in the law.

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

Official Source
View on CA.gov

§ 5902 Government Financial Definitions

As used in this chapter, the following words and terms shall have the following meanings, unless the context otherwise indicates or requires another or different meaning or intent: (a) “Bonds” means bonds, notes, warrants, bond anticipation notes, commercial paper, or other evidences of indebtedness, or lease, installment purchase, or other agreements or certificates of participation therein. (b) “Legislative body” means the governing body or board of the state or local government. (c) “State or local government” means the state, any department, agency, board, commission, or authority of the state, or any city, city and county, county, public district, public corporation, authority, agency, board, commission, or other public entity. (Added by Stats. 1986, Ch. 1389, Sec. 1. Effective September 30, 1986.)

Last verified: January 22, 2026

Key Terms

bondslegislative bodystate or local governmentcorporationcommissionagreementfinelease

Related Statutes

  • § 5906 Bond Usury Exemption
  • § 53550 Local Agency Bond Definitions
  • § 53580 Local Agency Bond Definitions
  • § 56133 Service Extension Approval Rules
  • § 5850 Public Bond Definitions

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Government Code. Section 5902.
View Official Source