California Statutes
§ 25407. — 25407. (Added by Stats. 1943, Ch. 284.)
California·Code SHC Streets and Highways Code - SHC·Div. 16. DIVISION 16. HIGHWAY DISTRICTS·Part 1. PART 1. JOINT HIGHWAY DISTRICTS·Ch. 17. CHAPTER 17. Revenue Bonds
The principal and interest of all revenue bonds shall be payable in lawful money of the United States of America at the office of the treasurer of the district issuing the same. Revenue bonds shall be serial in character and an approximately even proportion of the total amount of each issue shall be payable annually. The amount of the principal due in each annual payment excepting the last may be made to differ not more than five hundred dollars ($500) from the amount obtained by dividing the total of the principal amount due under the bonds, by the number of installments which shall not exceed four. The last installment shall be for the balance of the total principal amount
not provided to be paid in the previous installments.
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California § 25407. (25407. (Added by Stats. 1943, Ch. 284.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 1943, Ch. 284.