Cal. RTC § 97.77
This is the official text of Cal. RTC § 97.77, part of California’s Revenue and Taxation Code — governs state and local taxation, including income and property tax.
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Official statutory text
An enterprise special district and a nonenterprise special district shall not pledge, on or after July 1, 2004, and before June 30, 2006, through a bond covenant to pay debt service costs on debt instruments issued by the district, any ad valorem property tax revenue that would otherwise be dedicated to the reduction required by Sections 97.72 and 97.73.
Status: in_force · Read it on the official government site
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