2018 California Code
Streets and Highways Code - SHC
DIVISION 10 - THE IMPROVEMENT BOND ACT OF 1915
PART 6.5 - VARIABLE INTEREST RATE BONDS
Each bond, or any portion of the bond in a fixed amount or any integral multiple of the fixed amount, shall be subject to redemption in advance of its maturity on any interest payment date upon payment to the registered owner of the principal and accrued interest to the date of redemption together with a redemption premium, if any, as determined by the legislative body, not to exceed 5 percent of the principal.
(Added by Stats. 1985, Ch. 1332, Sec. 7. Effective October 1, 1985.)