A joint powers entity created pursuant to this chapter may issue revenue bonds pursuant to this article upon authorization by ordinance of only those individual parties to the joint powers agreement which contract to make payments to be applied to the payment of the revenue bonds, provided that the nonparticipating parties to the agreement incur no financial obligations under the issuance.

(Added by Stats. 1985, Ch. 868, Sec. 3. Effective September 23, 1985.)

Terms Used In California Government Code 6547.5

  • bonds: means revenue bonds, notes or other evidences of indebtedness. See California Government Code 6540
  • Contract: A legal written agreement that becomes binding when signed.
  • Entity: as used in this article means any agency, board or commission provided for by a joint powers agreement pursuant to Article 1 of this chapter. See California Government Code 6542
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