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California Law (Last Updated: March 4, 2014) |
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Government Code - GOV |
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Title 5. LOCAL AGENCIES |
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Division 2. CITIES, COUNTIES, AND OTHER AGENCIES |
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Part 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES |
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Chapter 2.7. Community Rehabilitation District Law |
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ARTICLE 5. Senior Obligation Bonds |
Section 53387.3.
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The resolution adopted pursuant to Section 53387 shall contain all of the following information:
(a) A description of the facilities or work to be undertaken with the proceeds of the proposed bond issue.
(b) The estimated cost of the facilities or works, the estimated cost of preparing and issuing the bonds, and the principal amount of the proposed bond issuance.
(c) The maximum interest rate and discount on the proposed bond issuance.
(d) The date of the election on the proposed bond issuance and the manner of holding the election.
(e) A determination of the amount available for the payment of the principal and interest on the bonds pursuant to Section 53387.
(f) A finding that the amount necessary to pay the principal and interest on the proposed bond issuance will be less than, or equal to, the amount determined pursuant to subdivision (e).