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DIVISION 12. THE MUNICIPAL IMPROVEMENT ACT OF 1913 10000-10706›CHAPTER 7. Improvement Bonds 10600-10610

§ 10602

California Streets and Highways Code · 2018-11 edition · updated 2026-10-04 · California

The bonds may be issued and sold as the legislative body directs. The proceeds of the bonds shall be deposited in the fund specified in Section 10424. The notice in the resolution of intention shall recite a maximum rate of interest to be paid on the indebtedness, not to exceed 8 percent a year payable semiannually, which rate shall not be exceeded in the issuance of the bonds. All bonds shall be made payable to bearer.

(Amended by Stats. 1975, Ch. 130.)

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▸Contents — California Streets and Highways Code
California Streets and Highways Code

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