§ 25402
46 words·~1 min read·
/ca/streets-and-highways-code/25402A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The board of directors shall prescribe the denominations of the revenue bonds which shall mature serially in convenient amounts not necessarily equal. Revenue bonds shall bear such rate of interest not to exceed 8 percent per annum as may be determined by the board of directors.