CA Pub Util Code Section 99376

The ordinance shall recite:

(a)

The object and purpose of incurring the indebtedness.

(b)

The estimated cost of the public improvements.

(c)

The amount of the principal of the indebtedness.

(d)

The rate or maximum rate of interest on the indebtedness, which shall not exceed 7 percent, and need not be recited if it does not exceed 412 percent. Such interest shall be payable semiannually, except that interest for the first year after the date of the bonds may be made payable at the end of such year.

(e)

The date of the election.

(f)

The manner of holding the election and the procedure for voting for or against the proposition.

Source: Section 99376, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=PUC§ionNum=99376..

Last Updated

Aug. 19, 2023

§ 99376’s source at ca.gov

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Location: https://california.public.law/codes/ca_pub_util_code_section_99376

Original Source: Section 99376, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=PUC§ionNum=99376. (last accessed Aug. 19, 2023).