Sts. & Hy. Code, § 8661 · Part 6.5. VARIABLE INTEREST RATE BONDS
Sts. & Hy. Code, § 8661
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
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.
Notes and commentary — not statutory text
History
Added by Stats. 1985, Ch. 1332, Sec. 7. Effective October 1, 1985.
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=8661.
- Text hash
- sha256 f16c81e16fc9a3bfbff2bd61d082f77825a6525d6c27b359c4c359b41830d868
- 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.