California Government Code 54402 – The legislative body may determine and provide in the resolution …
The legislative body may determine and provide in the resolution for:
(a) The issuance of any bonds or a series in the form of serial bonds or sinking fund bonds with serial or term maturities.
Terms Used In California Government Code 54402
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
(b) The interest of the bonds either fixed or variable, the rate or rates, payable at the times and in the manner specified therein. Under no conditions may the annual fixed or variable interest rate exceed the maximum rate specified in § 53531 of the Government Code.
(c) The denomination of the bonds.
(d) The form of the bonds, coupon, registered, or book entry.
(e) The registration and conversion privileges of the bonds.
(f) The manner in which the bonds are to be executed.
(g) The medium and place of payment.
(h) The terms of redemption, with or without a premium.
(Amended by Stats. 1990, Ch. 1130, Sec. 4.)