California Government Code

§ 5852.1

GOV § 5852.1 Effective Jan 1, 2018Div. 6 · Title 1 · Ch. 10.5

Statute text

(a)(1) Prior to authorization of the issuance of bonds with a term greater than 13 months pursuant to this chapter, the governing body of a public body shall obtain and disclose all of the following information in a meeting open to the public:

(A)The true interest cost of the bonds, which means the rate necessary to discount the amounts payable on the respective principal and interest payment dates to the purchase price received for the new issue of bonds.

(B)The finance charge of the bonds, which means the sum of all fees and charges paid to third parties.

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Legislative history

Added by Stats. 2017, Ch. 625, Sec. 1. (SB 450) Effective January 1, 2018.