Cal. Sts. & Hy. Code § 8661

Current through the 2023 Legislative Session.

Section 8661 - Resolution of intent to do work

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.

Ca. Sts. and High. Code § 8661

Added by Stats. 1985, Ch. 1332, Sec. 7. Effective October 1, 1985.