§ 92480 Bond Maturity And Terms

Education Code·California

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Key Takeaways

•Bonds have dates set by the regents.
•Bonds can be paid back over time or all at once.
•No bond can take more than 50 years to pay back.
•If bonds are split into groups, each group's 50-year limit starts from its own date.

Example

A school wants to borrow money to build a new playground.

The school can take out a bond to pay for the playground. They have up to 50 years to pay it back. If they take out more bonds later for other projects, each of those bonds also has up to 50 years to pay back, starting from when each bond was issued.

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

Official Source

View on CA.gov

§ 92480 Bond Maturity And Terms

Bonds shall bear dates prescribed by the regents. Bonds may be serial bonds or sinking fund bonds with such maturities as the regents may determine. No bond by its terms shall mature in more than 50 years from its own date and, in the event any authorized issue is divided into two or more series or divisions, the maximum maturity date authorized in this section shall be calculated from the date on the face of each bond separately, irrespective of the fact that different dates may be prescribed for the bonds of each separate series or division of any authorized issue. (Enacted by Stats. 1976, Ch. 1010.)

Last verified: January 23, 2026

Key Terms

maturity the university

References

Official text at leginfo.legislature.ca.gov
California Legislature. Education Code. Section 92480.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References