California Legal Codes and Statutes

§ 37657

Added by Stats. 1949, Ch. 79.

In receiving a money donation, the city may agree to pay the donors interest not exceeding 7 percent a year upon the principal during the lifetime of the donors or the survivor. Such a payment shall not be made for more than 40 years. The principal of such a donation shall not be repaid.

Cite this section

Cal. Gov. Code § 37657 (2026)
https://ca.codecond.com/codes/gov/title-4-government-of-cities/division-3-officers/part-2-legislative-body/chapter-5-city-property/article-8-hospitals-managed-by-city-legislative-body/section-37657

Other sections in Article 8 - Hospitals Managed by City Legislative Body

§ 37650§ 37650.1§ 37650.2§ 37651§ 37652§ 37653§ 37654§ 37655§ 37656§ 37657§ 37658§ 37659§ 37660

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