§ 62255
71 words·~1 min read·
/ca/government-code/62255A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Commencing in the calendar year in which the authority has allocated a cumulative total of more than one million dollars ($1,000,000) in property tax increment revenues pursuant to subdivision
(a)of Section 62253 or other revenues pursuant to subdivision
(b)of Section 62253, including any proceeds of a debt issuance, and each year thereafter, the authority shall contract for an independent audit conducted in accordance with generally accepted governmental auditing standards.