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HomeGovernment CodeDiv. 1Pt. 1Ch. 3.5Art. 2§ 50721 Bond Maintenance Requirements

§ 50721 Bond Maintenance Requirements

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

§ 50721 Bond Maintenance Requirements

Key Takeaways

  • •If a place (like a school or park) is built using borrowed money (bonds), the people in charge must keep it in good shape.
  • •They have to fix things when they break, replace old stuff, and make sure everything works like it should.
  • •This rule is there so things don’t fall apart and stay safe and useful for everyone.

Example

A school was built using bonds (borrowed money). Over time, the roof starts leaking, and some classroom doors are broken.

The school board must fix the roof and repair the doors because the law says they have to keep the school in good condition. If they don’t, they’re breaking the rules.

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

Official Source
View on CA.gov

§ 50721 Bond Maintenance Requirements

An indenture may include a clause relating to the bonds issued thereunder requiring the board to make all needful and necessary repairs, renewals and replacements to any improvements and to keep them at all times in good repair, working order and condition. (Added by Stats. 1957, Ch. 2066.)

Last verified: January 22, 2026

Key Terms

indentureagreementcondition

Related Statutes

  • § 50719 Bond Payment Requirements
  • § 50722 Bondholder Security Protection Clause
  • § 50727 Bond Proceeds Use Limits
  • § 50728 Bond Issuance Limitations Clause
  • § 50731 Indenture Breach Clause Rights

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Government Code. Section 50721.
View Official Source