Section 5953 Of Chapter 13. Fractional Interest In Local Agency Obligations From California Government Code >> Division 6. >> Title 1. >> Chapter 13.
5953
. No local agency that consents to an offer or sale of a
security that constitutes a fractional interest in a lease,
installment sale, or other obligation of the local agency shall be
required to review any proceedings relating to the creation of the
security or any of the offering or placement memoranda or any other
marketing or descriptive materials relating to the security, and all
memoranda or materials shall include a prominent statement on the
face thereof substantially to the effect that the consenting local
agency (specified by name) has not reviewed any of the proceedings
relating to the creation of the security or any of the offering or
placement memoranda or other marketing materials relating thereto.