California Streets and Highways Code

§ 25432

SHC § 25432Div. 16 · Part 1 · Ch. 18

Statute text

If the board of directors propose to issue funding bonds, they shall first adopt a resolution setting forth their intention so to do, and the resolution shall also contain the following:

(a)A general description of the boundaries of the funding district to be charged with the payment of any funding bonds which are proposed to be issued. The funding district may embrace the whole or any portion of the joint highway district, and the funding district shall be divided into zones composed of the counties, or portions thereof, composing the joint highway district. It shall be a sufficient description of the boundaries of the funding district and the zones therein, if the same are clearly shown upon a map or plat attached to the resolution.

(b)A description in general terms of the location, character and cost of the acquisition of property or improvement for which it is proposed to issue the funding bonds.

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Legislative history

Added by Stats. 1943, Ch. 284.