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2020 California Code
Streets and Highways Code - SHC
DIVISION 11 - REFUNDING OF BONDS ISSUED UNDER THE “IMPROVEMENT BOND ACT OF 1915”
CHAPTER 4 - Election of Landowners to Pay Original Assessment
Section 9164.
Universal Citation: CA St & Hwy Code § 9164 (2020)
9164.
If in order that the principal amount of outstanding bonds not canceled in the refunding proceedings which is payable annually and interest thereon shall equal the principal amount of assessments made under the original proceedings which are payable annually and interest thereon, it is necessary to reduce the amount of any bond or interest coupon, an appropriate notation showing the amount of reduction shall be written, printed, or stamped upon the face of each bond or coupon reduced in amount. The remaining amount of such bond or coupon shall be payable, collectible, and enforceable in accordance with the provisions of the Improvement Bond Act of 1915.
(Added by Stats. 1951, Ch. 463.)
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