California Law (Last Updated: March 4, 2014) |
Government Code - GOV |
Title 4. GOVERNMENT OF CITIES |
Division 3. OFFICERS |
Part 2. LEGISLATIVE BODY |
Chapter 5. City Property |
ARTICLE 7. Hospitals Managed by Board of Hospital Trustees |
Section 37618.2.
Latest version.
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A municipal hospital may borrow money and incur indebtedness in an amount not to exceed 85 percent of all estimated income and revenue for the current fiscal year, including, but not limited to, tax revenues, operating income, and any other miscellaneous income received by the municipal hospital, from whatever source derived. The money borrowed and indebtedness incurred under this section shall be repaid within the same fiscal year.
(Added by Stats. 1992, Ch. 72, Sec. 25. Effective May 28, 1992.)