2007 California Public Utilities Code Article 4. Temporary Borrowing

CA Codes (puc:120680-120681)

PUBLIC UTILITIES CODE
SECTION 120680-120681



120680.  The board may borrow money in accordance with Article 7
(commencing with Section 53820), Article 7.6 (commencing with Section
53850), or Article 7.7 (commencing with Section 53859) of Chapter 4
of Part 1 of Division 2 of Title 5  of the Government Code.



120681.  The board may borrow money in anticipation of the sale of
bonds which have been authorized to be issued, but which have not
been sold and delivered, and may issue negotiable bond anticipation
notes therefor and may renew the bond anticipation notes from time to
time, but the maximum maturity of any bond anticipation notes,
including the renewals thereof, shall not exceed five years from the
date of delivery of the original bond anticipation notes.
   The bond anticipation notes may be paid from any money of the
board available therefor and not otherwise pledged.  If not
previously otherwise paid, the bond anticipation notes shall be paid
from the proceeds of the next sale of the bonds of the board in
anticipation of which they were issued.  The bond anticipation notes
shall not be issued in any amount in excess of the aggregate amount
of bonds which the board has been authorized to issue, less the
amount of any bonds of the authorized issue previously sold, and also
less the amount of other bond anticipation notes therefor issued and
then outstanding.
   The bond anticipation notes shall be issued and sold in the same
manner as the bonds.  The bond anticipation notes and the resolution
or resolutions authorizing them may contain any provisions,
conditions, or limitations which a resolution of the board
authorizing the issuance of bonds may contain.

Disclaimer: These codes may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.