California Law (Last Updated: March 4, 2014) |
Revenue and Taxation Code - RTC |
Division 1. PROPERTY TAXATION |
Part 0.5. IMPLEMENTATION OF ARTICLE XIII A OF THE CALIFORNIA CONSTITUTION |
Chapter 6. Allocation of Property Tax Revenue |
ARTICLE 3. Revenue Allocation Shifts for Education |
Section 97.77.
Latest version.
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An enterprise special district and a nonenterprise special district shall not pledge, on or after July 1, 2004, and before June 30, 2006, through a bond covenant to pay debt service costs on debt instruments issued by the district, any ad valorem property tax revenue that would otherwise be dedicated to the reduction required by Sections 97.72 and 97.73.
(Added by Stats. 2004, Ch. 211, Sec. 28. Effective August 5, 2004. Note: Conditions in Sec. 47 of Ch. 211 failed; Prop. 65 was rejected on Nov. 2, 2004.)