California Government Code 5901 – It is the intent of the Legislature that state and local governments …
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It is the intent of the Legislature that state and local governments be provided with the powers and flexibility necessary and appropriate for them to access the market for bonds which bear interest subject to federal income taxation.
(Added by Stats. 1986, Ch. 1389, Sec. 1. Effective September 30, 1986.)
Terms Used In California Government Code 5901
- 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. See California Government Code 5902
- State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18