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California Code, Government Code - GOV § 5870

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As used in this chapter, the following definitions apply:

(a) “Conduit financing” means the issuance of conduit revenue bonds.

(b) “Conduit financing provider” means any county, city, city and county, public district, public authority, public corporation, nonprofit corporation, joint powers authority, or other statutorily constituted public entity that issues one or more conduit revenue bonds.

(c) “Conduit revenue bond” means any municipal security the proceeds of which are loaned to any nongovernmental borrower, including, but not limited to, persons, for-profit corporations, nonprofit corporations pursuant to Section 501(c)(3) of the Internal Revenue Code,  1 partnerships, and other legal entities for purposes that are permitted for qualified private activity bonds under applicable federal law.

1  Internal Revenue Code sections are in Title 26 of the U.S.C.A.

Cite this article: - California Code, Government Code - GOV § 5870 - last updated January 01, 2019 |

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