CHAPTER 4. Bond Terms

Chapter 4 added by Stats. 1951, Ch. 391.

§§ 45550–45560 · 11 sections

• § 45550 The bonds shall be in such denominations as the board may prescribe.
• § 45551 The bonds shall be signed by the president and attested by the treasurer.
• § 45552 The bonds shall be numbered consecutively in order of their maturity. If the bonds are issued in two or more series, each series shall be lettered in…
• § 45553 The bonds or any series thereof shall bear interest at a rate not to exceed 8 percent per year payable annually or semiannually as may be prescribed by the…
• § 45554 Coupons for each installment of interest shall be attached to the bonds and shall bear the facsimile signature of the treasurer.
• § 45555 The principal of the bonds or any series thereof shall be made payable on such dates, in such years and at such places as the board may prescribe.
• § 45556 The bonds or any series thereof shall be payable within 40 years from their date, and not less than 10 percent of the aggregate face value of the bonds or any…
• § 45557 The bonds shall be in such form as may be prescribed by the board.
• § 45558 The interest coupons shall be in such form as may be prescribed by the board.
• § 45559 When bonds are made callable, a statement to that effect shall be set forth on the face of the bond.
• § 45560 The board may determine to establish a bond reserve fund for the payment of the principal of or interest on the bonds. Such a bond reserve fund may be…