§ 19526 Bond Form And Repayment Terms

• •The board decides how the bonds look and when they must be paid back.
• •The bonds must be paid back within 40 years.
• •The board writes down their decisions in their meeting notes.

A city needs money to build a new park, so they issue bonds to borrow money.

The city board decides the bonds must be paid back in 20 years and writes this in their meeting notes. They also decide what the bonds will look like.