§ 5902 Government Financial Definitions
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.
§ 5902 Government Financial Definitions
Last verified: January 22, 2026