The rate of interest to be borne by the bonds need not be uniform for all bonds of the same issue, and shall be the rate or rates specified in the bid or proposal for negotiated sale accepted by the Treasurer, unless a variable interest rate is prescribed for the bonds in the resolution pursuant to subdivision (d) of Section 16731. The first interest payment date may be any date within one year after the date of the bonds.
Cal. Gov. Code § 16733
Issuance of Bonds
Known as the State General Obligation Bond Law
The act spans §§ 16720–16787 (51 sections).
Amended by Stats. 2001, Ch. 97, Sec. 4
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.