Section 53852 Of Article 7.6. Temporary Borrowing From California Government Code >> Division 2. >> Title 5. >> Part 1. >> Chapter 4. >> Article 7.6.
53852
. On or after the first day of any fiscal year a local agency
may borrow money pursuant to this article, the indebtedness to be
represented by a note or notes issued to the lender pursuant to this
article. The money borrowed may be used and expended by the local
agency for any purpose for which the local agency is authorized to
use and expend moneys, including but not limited to current expenses,
capital expenditures, investment and reinvestment, and the discharge
of any obligation or indebtedness of the local agency.