California Government Code 54129 – In the event that the board loans funds to a local agency, the board …
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In the event that the board loans funds to a local agency, the board and the local agency may agree upon the terms and conditions of the payment of the principal and interest. The maximum term of an agreement shall be 20 years. The board may require a shorter repayment period.
(Added by Stats. 1952, 2nd Ex. Sess., Ch. 21.)
Terms Used In California Government Code 54129
- Board: means the State Allocation Board. See California Government Code 54125
- Local agency: means any city, city and county, county, or public district. See California Government Code 54125