California Statutes
§ 8661. — 8661. (Added by Stats. 1985, Ch. 1332, Sec. 7.)
California·Code SHC Streets and Highways Code - SHC·Div. 10. DIVISION 10. THE IMPROVEMENT BOND ACT OF 1915·Part 6.5. PART 6.5. VARIABLE INTEREST RATE BONDS
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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California § 8661. (8661. (Added by Stats. 1985, Ch. 1332, Sec. 7.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 1985, Ch. 1332, Sec. 7. Effective October 1, 1985.