When a local agency is authorized by charter to issue bonds payable solely from revenues of a municipal utility or a special fund, in negotiable form, the local agency may issue the bonds and any coupons for interest thereon in negotiable form, and they are negotiable instruments for all purposes.
(Amended by Stats. 1951, Ch. 110.)
Terms Used In California Government Code 50662
- local agency: includes any board or department of the local agency. See California Government Code 50660