ARTICLE 4. Bonds

Article 4 added by Stats. 1943, Ch. 369.

§§ 8030–8039 · 10 sections

• § 8030 All bonds issued under this chapter shall be serial bonds and of such denominations as the city council determines.
• § 8031 No bond shall be for less than one hundred dollars ($100) nor for more than one thousand dollars ($1,000).
• § 8032 Not less than one-fortieth part of the whole indebtedness evidenced by the whole of the issue of bonds shall be, by the terms of the bonds, made payable each…
• § 8033 Each bond shall be made payable in lawful money of the United States on a day and at a place designated in the bond, with interest at the rate specified in the…
• § 8034 The interest rate shall not exceed 8 percent per annum, and shall be fixed by the city council.
• § 8035 The place of payment shall be either at the office of the treasurer of the city, or at some designated bank in San Francisco, Chicago, or New York.
• § 8036 The bonds shall be executed on the part of the city by the mayor or other executive, and the treasurer, and countersigned by the clerk of the city.
• § 8037 The interest coupons shall be numbered consecutively and signed by the treasurer.
• § 8038 Any of the bonds may be issued and sold by the city council at not less than its face value.
• § 8039 The proceeds of the sale of the bonds shall be deposited in the city treasury to the credit of a designated fund and shall be applied exclusively to the…