Government Code § 37657
‹ § 37656§ 37658 ›Open in browserleginfo ↗37657.
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.
(Added by Stats. 1949, Ch. 79.)