§ 15144 Bond Duration Limit

Education Code·California

AI SummaryVerified

This law says a bond (or any piece of it) can’t be set to last longer than 25 years from when it’s issued.

Key Takeaways

•Bond terms can’t be longer than 25 years.
•The 25‑year limit applies to the whole bond and any part of it.
•The clock starts on the bond’s issue date or the start date of any series of bonds.

Example

A city wants to raise money to build a new library and thinks about issuing a 30‑year bond.

Because the law caps bond terms at 25 years, the city must make the bond term 25 years or shorter; a 30‑year bond would not be allowed.

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

Official Source

View on CA.gov

§ 15144 Bond Duration Limit

The number of years the whole or any part of the bonds are to run shall not exceed 25 years, from the date of the bonds or the date of any series thereof. (Repealed and added by Stats. 1996, Ch. 277, Sec. 2. Effective January 1, 1997. Operative January 1, 1998.)

Last verified: January 10, 2026

Key Terms

bonds 25 years date of the bonds date of any series thereof

References

Official text at leginfo.legislature.ca.gov
California Legislature. Education Code. Section 15144.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References