Bonds may be issued in accordance with the estimate in such amounts not exceeding the total amount of bonds authorized as will produce a sum sufficient to pay the cost of constructing or acquiring or both the works for which they were authorized and interest on the bonds so issued during the period of construction and six months thereafter. The failure to issue the full amount of bonds authorized shall not invalidate any bonds of the district.
Cal. Sts. & High. Code § 27242
Issuance of District Bonds and Disposition of Surplus Proceeds
Known as the Bridge and Highway District Act
The act spans §§ 27000–27567 (174 sections).
Added by Stats. 1943, Ch. 286.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.