§ 53588
63 words·~1 min read·
/ca/government-code/53588A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.