Any bonds issued under this act shall be payable within not more than forty (40) years from the date of issue thereof. No bond may be made payable at a time later than the end of the term of the agency, board or commission as provided in the joint powers agreement in effect at the time the bonds are issued.
Cal. Gov. Code § 6570
Power to Issue Revenue Bonds
Known as the Joint Exercise of Powers Act
The act spans §§ 6500–6583 (150 sections).
Added by Stats. 1955, Ch. 329.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.