California Streets and Highways Code

§ 8661

SHC § 8661 Effective Oct 1, 1985Div. 10 · Part 6.5

Statute text

If the legislative body determines to issue bonds as provided in this part to represent the expense of any proposed work or improvement, it shall, in the resolution of intention to do the work, do all of the following:

(a)Declare that the serial or term bonds are issued pursuant to this division to represent the expenses of the proposed work or improvement.

(b)Specify that the bonds may bear a variable rate of interest.

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Legislative history

Added by Stats. 1985, Ch. 1332, Sec. 7. Effective October 1, 1985.