California § 8661. 8661. (Added by Stats. 1985, Ch. 1332, Sec. 7.)

California Statutes

§ 8661. — 8661. (Added by Stats. 1985, Ch. 1332, Sec. 7.)

California § 8661.

Code SHCStreets and Highways Code - SHC

Div. 10.DIVISION 10. THE IMPROVEMENT BOND ACT OF 1915

Part 6.5.PART 6.5. VARIABLE INTEREST RATE BONDS

This text of California § 8661. (8661. (Added by Stats. 1985, Ch. 1332, Sec. 7.)) 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 § 8661. (2026).

Text

If the legislative body determines to issue bonds as provided in this part to represent the expense of any proposed work or improvement, it shall, in the resolution of intention to do the work, do all of the following:

(a)Declare that the serial or term bonds are issued pursuant to this division to represent the expenses of the proposed work or improvement.

(b)Specify that the bonds may bear a variable rate of interest.

(c)Specify the maximum rate of interest which the bonds may bear.

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If the legislative body determines to issue bonds as provided in this part to represent the expense of any proposed work or improvement, it shall, in the resolution of intention to do the work, do all of the following:
(a)
Declare that the serial or term bonds are issued pursuant to this division to represent the expenses of the proposed work or improvement.
(b)
Specify that the bonds may bear a variable rate of interest.
(c)
Specify the maximum rate of interest which the bonds may bear.

Legislative History

Added by Stats. 1985, Ch. 1332, Sec. 7. Effective October 1, 1985.

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