§ 32302 Bond Election Resolution Requirements

Health and Safety Code·California

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Key Takeaways

•The board must decide how much money they want to borrow, the interest rate, and when they will pay it back.
•They have to tell everyone about this plan before asking for votes.
•If at least two-thirds of the voters say yes, the board can borrow the money.

Example

A small town wants to build a new school but doesn't have enough money.

The town leaders decide to borrow $1,000,000 with 3% interest and promise to pay it back in 10 years. They tell everyone about this plan. If two-thirds of the voters agree, the town can borrow the money to build the school.

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

Official Source

View on CA.gov

§ 32302 Bond Election Resolution Requirements

The resolution of the board of directors calling a bond election, in addition to all of the matters required by this division for a resolution calling an election, shall state the amount of the proposed bond issue, the rate of interest thereon, and the maximum date of maturity of bonds. If two-thirds of the votes cast at the bond election are in favor of the issuance of the bonds, the board of directors shall cause bonds to be issued. (Added by Stats. 1945, Ch. 932.)

Last verified: January 23, 2026

Key Terms

resolution election director addition maturity issuance

References

Official text at leginfo.legislature.ca.gov
California Legislature. Health and Safety Code. Section 32302.

Key Takeaways

Example

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Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References