Sts. & Hy. Code, § 6461 · Chapter 4. Form and Content of Bonds
Sts. & Hy. Code, § 6461
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
The bonds shall:
(a) Be payable to the party to whom they issue, or to order.
(b) Be serial bonds.
(c) Bear interest at the rate specified in the resolution of intention to do the work, unless the legislative body determines that a lesser rate of interest is appropriate at the time of advertising for bids, in which case a lesser interest rate may be specified in the bid advertisements.
(d) Have annual principal coupons attached to them, payable in annual order, on the second day of January of every year after the next September 1st following the date of the bond, until all are paid. Each principal coupon shall be for an even annual proportion of the principal of the bond.
(e) Have semiannual interest coupons attached to them.
Notes and commentary — not statutory text
History
Amended by Stats. 1983, Ch. 293, Sec. 7.
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=SHC§ionNum=6461.
- Text hash
- sha256 9f137f18c54f24fcdb4e59b8b46ab203f4f013515ff3159237f787c1b2ac1acc
- 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
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.