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HomeEducation CodeDiv. 7Pt. 49Ch. 5§ 81927 Bond Issuance Terms Authority

§ 81927 Bond Issuance Terms Authority

Education Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 81927 Bond Issuance Terms Authority

Key Takeaways

  • •The board can issue different types of bonds at the same time.
  • •Bonds can have different interest rates, due dates, and rules.
  • •Not all bonds in the same group have to be the same.
  • •The board decides the rules for each bond before selling them.

Example

A city needs money to build a new park and fix old roads.

The city can sell different bonds to get the money. Some bonds might pay back in 5 years with 3% interest, and others in 10 years with 5% interest. This way, the city can attract different buyers for the bonds.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 81927 Bond Issuance Terms Authority

The board may provide for one or several issues of bonds and may issue bonds in series or may divide any issue into one or more divisions and fix different maturities or dates of such bonds, different rates of interest, or prescribe different terms and conditions for the bonds of the several series or divisions. It is not necessary that all bonds of the same authorized issue be of the same kind or character, have the same security, or be of the same interest rate, but the terms thereof shall in each case be provided for by the board at or prior to the issue thereof. (Added by Stats. 1982, Ch. 251, Sec. 28. Effective June 11, 1982. Operative July 1, 1982, by Sec. 47 of Ch. 251.)

Last verified: January 23, 2026

Key Terms

the boardeffective juneoperative julymaturitysecurity

Related Statutes

  • § 81930 Bond Call Provisions
  • § 81937 Bond Security And Redemption
  • § 81905 Community College Revenue Bonds
  • § 81926 Trustee Bond Management Duties
  • § 81932 Bond Signature Validity Rules

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Education Code. Section 81927.
View Official Source