Bonds shall bear interest at a rate of not to exceed 8 percent per annum, payable semiannually, except that interest for the first year or any fraction thereof may be paid in one installment.
Cal. Pub. Util. Code § 29173
Form and Terms of General Obligation Bonds
Amended by Stats. 1975, Ch. 130.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.