LawWiki
HomeCodesSearchGlossaryAPIAbout
LawWiki

Plain English summaries of California law with zero-hallucination AI. Every summary is verified against official source text.

Product

  • Search
  • Codes
  • About

Legal

  • Privacy Policy
  • Terms of Service
  • Disclaimer

© 2026 LawWiki. All rights reserved.

HomeGovernment CodeDiv. 2Pt. 2Ch. 15Art. 2§ 26436 Bond Issuance Terms Authority

§ 26436 Bond Issuance Terms Authority

Government Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 26436 Bond Issuance Terms Authority

Key Takeaways

  • •The board can sell bonds in groups or split them into parts.
  • •Each group can have different rules, like when they are paid back or how much interest they earn.
  • •Not all bonds have to be the same; they can have different terms and conditions.
  • •The board decides the rules for each group before selling them.

Example

Imagine a school wants to borrow money to build a new playground. They can sell bonds to people who want to invest.

The school can sell some bonds that pay back in 5 years and others in 10 years. Some might earn more interest than others. The school board decides all these rules before selling the bonds.

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

Official Source
View on CA.gov

§ 26436 Bond Issuance Terms Authority

The board may issue bonds in series or may divide any issue into one or more divisions and fix different maturities or dates of such bonds, different rates of interest, or prescribe different terms and conditions for the bonds of the several series or divisions. It is not necessary that all bonds of the same authorized issue be of the same kind or character, have the same security, or be of the same interest rate, but the terms thereof shall in each case be provided for by the board, at or prior to the issue thereof. The board may provide for successive issues or may provide for one maximum issue. (Added by Stats. 1947, Ch. 822.)

Last verified: January 22, 2026

Key Terms

leasethe boardsecurity

Related Statutes

  • § 26444 Bond Security Provisions
  • § 26415 County Revenue Bond Issuance
  • § 26417 Bond Indenture Terms
  • § 26418 Bond Security Covenants
  • § 26422 Bondholder Security Protection Clause

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Government Code. Section 26436.
View Official Source