§ 5879.1
81 words·~1 min read·
/ca/streets-and-highways-code/5879-1A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The legislative body may adopt a resolution determining that bonds shall be issued and assessments collected and enforced pursuant to Part 5 of this division. In such event, the notice shall also specify that bonds shall be issued to represent the security of the unpaid assessments, payable over a period of not to exceed 10 years, and shall further recite a maximum rate of interest to be paid on the indebtedness, which shall not exceed 7 percent a year, payable semiannually.