Government Code section 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.

Source: Section 37657, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=GOV§ionNum=37657. (updated Jan. 1, 1949; accessed Jun. 25, 2025).

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Up to date

Verified:
Jun. 25, 2025

§ 37657's source at ca.gov

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Location: https://california.public.law/codes/government_code_section_37657

Original Source: Section 37657, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=GOV§ionNum=37657. (last accessed May 12, 2025).