If improvement bonds are to be issued pursuant to the Improvement Bond Act of 1915 (Division 10 (commencing with Section 8500)), the costs and expenses of the proposed improvement may include an allowance for interest not exceeding two years’ estimated interest on the bonds. The amount of the allowance for interest shall be paid into the redemption fund for the bonds upon sale and delivery of the bonds.
Cal. Sts. & High. Code § 10204.2
Resolution of Intention and Report
Known as the Municipal Improvement Act
The act spans §§ 10000–10706 (149 sections).
Amended by Stats. 1989, Ch. 104, Sec. 30.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.