G – California Debt Financing Guide

1.1 A Public Agency’s Authority to Borrow
This chapter provides an overview of the statutory and legal framework within which California local public agencies may incur debt and obtain the funds needed to repay it.
1.1.2 General Bond Statutes
Statutory authorities broadly applicable to public agencies.
A.6 General Bond Statutes

General Tax
Figure 1-1 Public Agency Revenue Sources by Category
1.4.5 General Taxes
Sources of Revenues securing debt obligations: General taxes defined
3.3.3 Sales Tax Revenue Bonds
Debt obligations that are payable from and secured by revenues from the imposition of a sales and use tax, or a transaction and use tax, on retail transactions

i.3.2.3 Responsibilities of Elected and Appointed Officials
i.4.4 Additional Legal Requirements – Internal Boards, Reporting to CDIAC, and Voter Approval
Chapter 6. Securities Laws Pertaining to Municipal Debt
Municipal bonds, notes, certificates of participation, and similar obligations sold to investors (“municipal securities”) are generally subject to federal and state securities laws.
6.1.1 Antifraud Rules
Statements by municipal issuers to investors, or potential investors, and even statements to the public generally, if likely to be heard and relied upon by the securities market are subject to the anitfraud provisions of federal securities laws.
6.1.2 Governing Board Responsibilities
Role of governing board in complying with federal securities laws.
7.2.5 School and Community College Bond Issuance Costs
7.3 Prohibition of Gift of Public Funds
Prohibitions imposed on a public agency from making any gift of public funds or from lending its public credit to any person.
8.4.1 Annual Reports
Annual financial reports submitted as a part of continuing disclosures made by issuers.
8.5.1 Audited Financial Statements
B.1.3.1.1 Process for Approval of Local School District GO Bonds
D.1 Public Agencies and Bankruptcy
D.1.1 Eligibility

i.4.6 What Financing Options are Available
2.2.2.2 Short-Term Debt
3.7.3 Bond Anticipation Notes and Grant Anticipation Notes
Bond anticipation notes (BANs) are notes issued in advance, generally several years in advance, of the expected date of long-term financing for a project.