Cal. SHC § 8661
This is the official text of Cal. SHC § 8661, part of California’s Streets and Highways Code — governs the construction and maintenance of public roads.
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Official statutory text
If the legislative body determines to issue bonds as provided in this part to represent the expense of any proposed work or improvement, it shall, in the resolution of intention to do the work, do all of the following:
(a) Declare that the serial or term bonds are issued pursuant to this division to represent the expenses of the proposed work or improvement.
(b) Specify that the bonds may bear a variable rate of interest.
(c) Specify the maximum rate of interest which the bonds may bear.
(a) Declare that the serial or term bonds are issued pursuant to this division to represent the expenses of the proposed work or improvement.
(b) Specify that the bonds may bear a variable rate of interest.
(c) Specify the maximum rate of interest which the bonds may bear.
Status: in_force · Read it on the official government site
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