California Streets and Highways Code

§ 25403

SHC § 25403 Effective Jan 1, 2019Div. 16 · Part 1 · Ch. 17

Statute text

Revenue bonds shall be in substantially the following form (filling in blanks as appropriate): REVENUE BOND Joint Highway District No.______ of the State of California $_______ Bond No. _______ Series________. Under and by virtue of Part 1 of Division 16 of the Streets and Highways Code, the treasurer of Joint Highway District No. ____ of the State of California will pay to the bearer, out of the fund hereinafter designated, at the office of the treasurer of said district, on the ____ day of ____, 20__, the sum of ____ dollars, in lawful money of the United States of America, with interest thereon in like lawful money at the rate of ____ per cent per annum, payable semiannually on the second day of January and the second day of July of each year from the date hereof (except the last installment thereof, which shall be payable at the maturity of this bond), upon presentation and surrender, as they respectively become due, of the proper interest coupons hereto attached, the first of which is for interest from date hereof to the next date of interest payment, and the last for interest to maturity hereof from the last preceding date of interest payment. This bond is issued under and in conformity with the provisions of the above mentioned Part 1 of Division 16 of the Streets and Highways Code, relative to the issuance of revenue bonds and is a primary obligation of the joint highway district above named. This bond is payable out of the “Joint Highway District No. ____ of the State of California Revenue Bond Fund,” in accordance with the provisions of the said Part 1 of Division 16 of the Streets and Highways Code. It is hereby certified, recited and declared that all proceedings, acts and things required by law precedent to or in the issuance of this bond have been regularly had, done and performed, and this bond is by law made conclusive evidence thereof. In witness whereof the board of directors of said joint highway district has caused this bond to be signed by the treasurer of said district, attested by the secretary of said board, and the official seal of said district to be affixed hereto, this ____ day of ____, 20__. (seal) Treasurer of Joint Highway District No. _____ of the State of California Attest: Secretary of the Board of Directors.

Legislative history

Amended by Stats. 2018, Ch. 198, Sec. 16. (AB 3246) Effective January 1, 2019.