California Law (Last Updated: March 4, 2014) |
Government Code - GOV |
Title 1. GENERAL |
Division 3.6. CLAIMS AND ACTIONS AGAINST PUBLIC ENTITIES AND PUBLIC EMPLOYEES |
Part 5. PAYMENT OF CLAIMS AND JUDGMENTS |
Chapter 2. Payment of Judgments Against Local Public Entities |
ARTICLE 2. Funding Judgments With Bonds |
Section 975.2.
Latest version.
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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.
(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.)