topleft >  Services >  Governance Technology > 

Legal Resources |  |  GC  53635.7  

Financial Affairs; Deposit of Funds; Borrowing over $100,000   

arrow Previous bar Next arrow

In making any decision that involves borrowing in the amount of one hundred thousand dollars ($100,000) or more, the legislative body of the local agency shall discuss, consider, and deliberate each decision as a separate item of business on the agenda of its meeting as prescribed in Chapter 9 (commencing with Section 54950). As used in this section, "borrowing" does not include bank overdrafts.

(Amended by Stats, Ch. 217, Sec. 3.)