California Revenue and Taxation Code 8517 – The bonds shall bear interest at a rate or rates not exceeding the …
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The bonds shall bear interest at a rate or rates not exceeding the maximum allowable by law, payable at intervals determined by the commission, except that the first interest payable on the bonds, or any series thereof, may be for any period not exceeding one year, as determined by the commission.
(Added by Stats. 1997, Ch. 878, Sec. 1. Effective January 1, 1998.)
Terms Used In California Revenue and Taxation Code 8517
- Bonds: means indebtedness and securities of any kind or class, including bonds, notes, bond anticipation notes, and commercial paper. See California Revenue and Taxation Code 8501
- Commission: means the Metropolitan Transportation Commission created by Title 7. See California Revenue and Taxation Code 8501