California § 25407. 25407. (Added by Stats. 1943, Ch. 284.)

California Statutes

§ 25407. — 25407. (Added by Stats. 1943, Ch. 284.)

California § 25407.

JurisdictionCalifornia

Code SHCStreets and Highways Code - SHC

Div. 16.DIVISION 16. HIGHWAY DISTRICTS

Part 1.PART 1. JOINT HIGHWAY DISTRICTS

Ch. 17.CHAPTER 17. Revenue Bonds

This text of California § 25407. (25407. (Added by Stats. 1943, Ch. 284.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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Cal. Streets and Highways Code - SHC Code § 25407. (2026).

Text

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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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.

Legislative History

Added by Stats. 1943, Ch. 284.

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California § 25407., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/SHC/25407..