California · Military and Veterans Code - MVC

MVC §1002.1: A resolution of issuance may provide for the issuance of debentures in one or more series and for the aggregate principal amount of any series thereof.

What this law says, in plain English

This statute permits a resolution of issuance to authorize the issuance of debentures in multiple series with specified aggregate principal amounts for each series.

Read the full statutory text

A resolution of issuance may provide for the issuance of debentures in one or more series and for the aggregate principal amount of any series thereof. Any series of debentures may consist of serial debentures or of term debentures with sinking fund requirements or partially of serial debentures and partially of term debentures with sinking fund requirements. For any authorized issuance of debentures, the resolution may provide the department with the discretion to determine the number of series to be issued, the aggregate principal amount of each series, the designation of debentures within any such series as serial or term debentures, and the mandatory sinking account payments for term debentures, if any, subject to the aggregate principal amount of debentures authorized in the resolution.

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