The legislative body conducting the proceedings may elect in the resolution of intention to provide that the bonds issued to represent assessments against property in the use of the performance of a public function shall provide a prepayment premium not to exceed 5 percent of the principal amount of bond. In such case, the amount of the premium shall be inserted in the bonds described in Section 6468.
Cal. Sts. & High. Code § 6468.8
Issuance of Bonds to Represent Unpaid Assessments Against Publicly Owned Property
Known as the Improvement Act
The act spans §§ 5000–6794 (521 sections).
Added by Stats. 1972, Ch. 629.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.