Bonds
Cal. PRC § 13109
California Statutes
After the board has made its determination pursuant to
Section 13105, if it deems it necessary to incur the bonded indebtedness, it shall by resolution state: (
a) That it deems it necessary to incur the bonded indebtedness. (
b) The purpose for which the bonded indebtedness will be incurred. (
c) Either of the following in accordance with its previous determination:
(1) That the whole of the district will be benefited by incurring the bonded indebtedness.
(2) That a portion of the district will be benefited by incurring the bonded indebtedness, which portion shall be described in the resolution of the board made pursuant to
Section 13105. (
d) The amount of debt to be incurred. (
e) The maximum term the bonds to be issued shall run before maturity, which term shall not exceed years. (
f) The annual rate of interest to be paid, which rate shall not exceed percent, payable annually or semiannually, or in part annually and in part semiannually. (
g) The proposition to be submitted to the voters. (
h) The date of the special district election (which may be consolidated with a general election) at which such proposition shall be submitted to the voters; the hours between which the polls shall be open; the boundaries of voting precincts within the area or portion thereof benefited by incurring the bonded indebtedness; the location of polling places; and the names of the officers selected to conduct such election in each precinct, who shall consist of one judge, one inspector and two clerks.