Statute · California Streets and Highways Code
Cal. Sts. & High. Code § 8661 — VARIABLE INTEREST RATE BONDS
Cal. Sts. & High. Code § 8661
- Type
- Statute
- Source
- California Streets and Highways Code
- Jurisdiction
- California
- Date
- 1985-10-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
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:
Citator
Cal. Sts. & High. Code § 8661 — VARIABLE INTEREST RATE BONDS is in force in the current edition of the Code, and nothing recorded condemns it.
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.
(c) Specify the maximum rate of interest which the bonds may bear.