California Government Code 53821 – Subsequent to approval of the final budget and levy of taxes, if …
Subsequent to approval of the final budget and levy of taxes, if funds are needed for the immediate requirements of a local agency in any fiscal year to pay obligations lawfully incurred in the fiscal year and before the receipt of income for the fiscal year sufficient to meet the payments, money may be borrowed by:
(a) The legislative body of a county on the recommendation of the auditor and treasurer.
Terms Used In California Government Code 53821
- City: includes "city and county" and "incorporated town" but does not include "unincorporated town" or "village. See California Government Code 20
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- County: includes city and county. See California Government Code 19
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- local agency: means county, city, regional park district, school district, community college district, or any other municipal or public corporation or district. See California Government Code 53820
(b) The legislative body of the county having the largest area within the regional park district on the recommendation of the auditor and treasurer.
(c) A school district, county board of education, or community college district on the request of two-thirds of the members of its governing board, approved by the county auditor and treasurer.
(d) A regional park district on the request of four-fifths of the members of its legislative body, approved by the auditor and treasurer of the county having the largest area within the district.
(e) The legislative body of a city on the recommendation of the city treasurer and chief accounting officer.
(f) The legislative body of any other municipal or public corporation or district on the recommendation of the officers performing the functions of auditor and treasurer.
(Amended by Stats. 1980, Ch. 447.)