California · Government Code
GOV §6547.5: 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 w
What this law says, in plain English
A joint powers entity may issue revenue bonds if authorized by ordinance from the individual parties to the joint powers agreement.
Read the full statutory text
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.
Verify at the official source: California legislative text
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