California Government Code 975.2 – Whenever the board deems it necessary for the local taxing entity to …
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Whenever the board deems it necessary for the local taxing entity to incur a bonded indebtedness to fund all or any portion of an outstanding judgment against the entity, it shall by resolution state:
(a) The necessity for the indebtedness.
Terms Used In California Government Code 975.2
- Board: means the governing body of a local taxing entity. See California Government Code 975
- Local taxing entity: means a local public entity that has the power to levy ad valorem taxes, or ad valorem assessments, upon property within the territory of the entity. See California Government Code 975
- State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18
(b) The purpose for which the proposed debt is to be incurred.
(c) The amount of the proposed debt.
(d) The time and place for a hearing by the board on the question whether the local taxing entity should incur a bonded indebtedness to fund all or any portion of an outstanding judgment against the entity.
(Added by Stats. 1963, Ch. 1715.)