§ 8745
71 words·~1 min read·
/ca/streets-and-highways-code/8745A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The legislative body may, by resolution, borrow money in anticipation of the sale of bonds which have been authorized pursuant to this division, but which have not been sold and delivered, issue negotiable bond anticipation notes therefor, and renew the notes from time to time. The maximum maturity of any bond anticipation notes, including the renewals thereof, shall not exceed three years from the date of delivery of the original notes.