California Education Code

§ 81908

EDC § 81908Div. 7 · Title 3 · Part 49 · Ch. 5

Statute text

(a)An indenture pursuant to which bonds are issued may include any and all covenants and agreements on the part of the board as the board deems necessary or advisable for the better security of the bonds issued thereunder. An indenture may include a clause, relating to the bonds issued thereunder, requiring the board to do any or all of the following:

(1)To pay or cause to be paid punctually the principal of all the bonds and the interest thereon on the date or dates, or at the place or places, and in the manner mentioned in the bonds and in the coupons appertaining thereto in accordance with the indenture.

(2)To operate the project continuously, to the extent practicable under conditions as they may from time to time exist, in an efficient and economical manner.

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Legislative history

Amended by Stats. 1990, Ch. 1372, Sec. 585.