Statute · California Public Utilities Code

Cal. Pub. Util. Code § 99376 — Limited Obligation Bonds

Cal. Pub. Util. Code § 99376

Type: Statute
Source: California Public Utilities Code
Jurisdiction: California
Current through: Nov 2, 2026 (California Legislative Counsel)

The ordinance shall recite:

Citator

Cal. Pub. Util. Code § 99376 — Limited Obligation Bonds is in force in the current edition of the Code, and nothing recorded condemns it.

The ordinance shall recite:

(a) The object and purpose of incurring the indebtedness.

(b) The estimated cost of the public improvements.

(c) The amount of the principal of the indebtedness.

(d) The rate or maximum rate of interest on the indebtedness, which shall not exceed 7 percent, and need not be recited if it does not exceed 412 percent. Such interest shall be payable semiannually, except that interest for the first year after the date of the bonds may be made payable at the end of such year.

(e) The date of the election.

(f) The manner of holding the election and the procedure for voting for or against the proposition.