California Revenue and Taxation Code 8518 – In the resolution authorizing the issuance of the bonds, the …
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In the resolution authorizing the issuance of the bonds, the commission may also provide for the call and redemption of the bonds prior to maturity at the times and prices and upon other terms as specified. However, no bond is subject to call or redemption prior to maturity, unless it contains a recital to that effect or unless a statement to that effect is printed.
(Added by Stats. 1997, Ch. 878, Sec. 1. Effective January 1, 1998.)
Terms Used In California Revenue and Taxation Code 8518
- 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