California Streets and Highways Code 33130 – All bonds of the same authorized issue need not be of the same kind …
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All bonds of the same authorized issue need not be of the same kind or character, have the same security, or bear the same interest rate, but the terms of the bonds shall in each case be prescribed by the authority.
(Amended by Stats. 1951, Ch. 1388.)
Terms Used In California Streets and Highways Code 33130
- bonds: means revenue bonds issued pursuant to this part. See California Streets and Highways Code 33100
- 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