California · Streets and Highways Code - SHC

SHC §27243: Prior to the preparation of definitive bonds the board may issue temporary bonds of any denomination and with or without coupons and subject to the same restrictions imposed upon the issuance of defin

What this law says, in plain English

A board may issue temporary bonds before issuing permanent bonds, in any amount and with or without coupons, subject to the same restrictions as permanent bonds.

Read the full statutory text

Prior to the preparation of definitive bonds the board may issue temporary bonds of any denomination and with or without coupons and subject to the same restrictions imposed upon the issuance of definitive bonds. Temporary bonds shall be exchangeable for definitive bonds upon the issuance of the latter.

Verify at the official source: California legislative text

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