Pub. Util. Code, § 99376 · Article 7. Limited Obligation Bonds
Pub. Util. Code, § 99376
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
The ordinance shall recite:
(a) The object and purpose of incurring the indebtedness.
(b) The estimated cost of the public improvements.
(c) The amount of the principal of the indebtedness.
(d) The rate or maximum rate of interest on the indebtedness, which shall not exceed 7 percent, and need not be recited if it does not exceed 4 1/2 percent. Such interest shall be payable semiannually, except that interest for the first year after the date of the bonds may be made payable at the end of such year.
(e) The date of the election.
(f) The manner of holding the election and the procedure for voting for or against the proposition.
Notes and commentary — not statutory text
History
Added by Stats. 1971, Ch. 1400.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=PUC§ionNum=99376.
- Text hash
- sha256 bab9cb1f23bf37c1a53b913185d207d50b5ceab4bbd1caf019ad490d550921ee
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
- printed fractions are shown as 1/4
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.