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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 3. Bonds |
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ARTICLE 4.5. General Obligation Bonds |
Section 53508.
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The resolution authorizing any bonds or any issue of bonds may provide for any of the following:
(a) The form of the bonds to be issued as serial bonds, or sinking fund bonds, with serial or term maturities, or any combination thereof.
(b) The number of series in which the bonds are to be issued.
(c) The form of the bonds as coupon, registered, or book entry.
(d) The interest on the bonds, either fixed or variable, and the interest rate or rates, payable at the times and in the manner specified therein, and whether all or part of any series of the bonds shall be issued as zero coupon or capital appreciation bonds; provided, however, that under no conditions may the annual interest rate, whether fixed or variable, exceed the maximum rate permitted by Section 53531 or 53532.
(e) The time, medium, and place or places of payment.
(f) The time or times of maturity of the bonds, not exceeding 40 years from their respective dates.
(g) The date or dates to be borne by the bonds of each series.
(h) The denomination of the bonds.
(i) The registration and conversion privileges of the bonds.
(j) The manner in which the bonds are to be executed.
(k) The terms of redemption, with or without premium.
(l) Other terms and conditions of the bonds and of their execution, issuance, and sale deemed necessary and appropriate by the legislative body.