California Legal Codes and Statutes

§ 53588

Added by Stats. 1985, Ch. 1033, Sec. 18. Effective September 27, 1985.

The issuance, transfer, and interest income earned on any bonds issued by a local agency under this article is exempt from taxation of every kind by any state or local entity. The local agency shall not be required to pay any taxes on, or with respect to, the income earned on the investment of proceeds of the bonds placed in escrow or otherwise.

Cite this section

Cal. Gov. Code § 53588 (2026)
https://ca.codecond.com/codes/gov/title-5-local-agencies/division-2-cities-counties-and-other-agencies/part-1-powers-and-duties-common-to-cities-counties-and-other-agencies/chapter-3-bonds/article-11-provisions-applicable-to-all-refunding-bonds-of-all-local-agencies/section-53588

Other sections in Article 11 - Provisions Applicable to All Refunding Bonds of All Local Agencies

§ 53580§ 53581§ 53582§ 53583§ 53583.5§ 53584§ 53584.1§ 53585§ 53585.1§ 53586§ 53587§ 53588§ 53589§ 53589.5

This content is for reference, learning, and study purposes only. All legal text should be verified against the official California Legislative Information website, which is the authoritative source for California law. Data last processed: February 15, 2026.