California § 53858 - Notes shall not be issued pursuant to this article in any fiscal year in an amoun
Full text of California Public Contract Code - PCC § 53858 — Notes shall not be issued pursuant to this article in any fiscal year in an amoun, with citation guidance and answers to common questions.
§ 53858. Notes shall not be issued pursuant to this article in any fiscal year in an amoun
Notes shall not be issued pursuant to this article in any fiscal year in an amount which, when added to the interest payable thereon, shall exceed 85 percent of the estimated amount of the then uncollected taxes, income, revenue, cash receipts, and other moneys of the local agency which will be available for the payment of said notes and the interest thereon; provided, however, that to the extent that any principal of or interest on such notes is secured by a pledge of the amount in any inactive or term deposit of the local agency, the term of which will terminate during said fiscal year, such principal and interest may be disregarded in computing said limit. For the purposes of this section, ârevenueâ includes, but is not limited to, revenue from the state and federal governments.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 53858
What does Public Contract Code - PCC § 53858 cover?
Section 53858 ("Notes shall not be issued pursuant to this article in any fiscal year in an amoun") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 53858?
A common citation format is "Public Contract Code - PCC § 53858" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 53858 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.