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. 1Ch. 6Art. 3§ 54382 Bond Issuance Election Requirements

§ 54382 Bond Issuance Election Requirements

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

§ 54382 Bond Issuance Election Requirements

Key Takeaways

  • •This law is about how a local government can borrow money by selling bonds (like a loan) for big projects.
  • •Before borrowing, they must tell people why they need the money, how much they need, and how much interest they’ll pay.
  • •They have to hold a vote so people in the community can decide if they agree with the plan.
  • •The interest rate on the loan can’t be higher than what the law allows.

Example

A small town wants to build a new park but doesn’t have enough money. They decide to borrow money by selling bonds.

The town must explain why they need the park, how much it will cost, and how much interest they’ll pay on the loan. Then, they hold a vote so the townspeople can say yes or no to the plan.

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

Official Source
View on CA.gov

§ 54382 Bond Issuance Election Requirements

The resolution shall: (a) State the purpose for which the bonds are proposed to be issued. (b) State the estimated cost of the acquisition, construction, improvement and financing. (c) State the principal amount of the bonds. (d) State the maximum rate of interest on the bonds, which shall not exceed the maximum rate specified in Section 53531. That rate may be either fixed or variable, and shall be payable at the times and in the manner specified in the resolution. (e) Fix the election date. (f) Fix the manner of holding the election. (g) Fix the manner of voting on the issuance of the bonds. (h) State that in all other particulars the election shall be held and the votes canvassed pursuant to law for general municipal elections in such local agencies. (Amended by Stats. 1990, Ch. 1130, Sec. 2.)

Last verified: January 22, 2026

Key Terms

resolutionelectionacquisitionbeforeconstructionimprovementissuance

Related Statutes

  • § 54380 Local Agency Bond Approval
  • § 54307.4 Wind Energy Bond Authorization
  • § 54387 Bond Issuance Authorization Process
  • § 54410 Bond Issuance Cost Inclusions
  • § 29910 Bond Issuance Authorization Resolution

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Government Code. Section 54382.
View Official Source