§ 34354
141 words·~1 min read·
/ca/health-and-safety-code/34354A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
By resolution, an authority may authorize the issuance of its bonds which may be taxable or nontaxable. The resolution, its trust indenture, or mortgage may provide for:
(a)The issuance of bonds in one or more series.
(b)The date the bonds shall bear.
(c)The date of maturity, not exceeding 45 years from their respective dates.
(d)The interest rate, not exceeding 12 percent a year.
(e)The denomination of the bonds.
(f)The form of the bonds, either coupon or registered, as permitted by law.
(g)The conversion or registration privileges which the bonds shall carry.
(h)The rank or priority of the bonds.
(i)The manner of execution of the bonds.
(j)The medium of payment in which the bonds are payable.
(k)The place of payment.
( l ) The terms of redemption, with or without premium.