California Government Code

§ 54402

GOV § 54402Div. 2 · Title 5 · Part 1 · Ch. 6 · Art. 4

Statute text

The legislative body may determine and provide in the resolution for:

(a)The issuance of any bonds or a series in the form of serial bonds or sinking fund bonds with serial or term maturities.

(b)The interest of the bonds either fixed or variable, the rate or rates, payable at the times and in the manner specified therein. Under no conditions may the annual fixed or variable interest rate exceed the maximum rate specified in Section 53531 of the Government Code.

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Legislative history

Amended by Stats. 1990, Ch. 1130, Sec. 4.