California Streets and Highways Code

§ 5879.1

SHC § 5879.1Div. 7 · Part 3 · Ch. 27 · Art. 2

Statute text

The legislative body may adopt a resolution determining that bonds shall be issued and assessments collected and enforced pursuant to Part 5 of this division. In such event, the notice shall also specify that bonds shall be issued to represent the security of the unpaid assessments, payable over a period of not to exceed 10 years, and shall further recite a maximum rate of interest to be paid on the indebtedness, which shall not exceed 7 percent a year, payable semiannually.

Legislative history

Amended by Stats. 1968, Ch. 986.