§ 7217 Bond Series Maturity Limits

Harbors and Navigation Code·California

AI SummaryVerified

This law allows the government to split bond money into separate groups, each with its own start date, and each group can last no longer than 40 years.

Key Takeaways

•Bonds can be divided into multiple series.
•Each series can have its own issue date.
•No series may exceed 40 years from its issue date.

Example

A city wants to raise money for two different projects, so it issues bonds in two separate series.

The city can issue one series of bonds in 2025 that matures in 2065 (40 years later) and another series in 2026 that matures in 2066, but it cannot make either series last longer than 40 years from its issue date.

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

Official Source

View on CA.gov

§ 7217 Bond Series Maturity Limits

The full amount of bonds may be divided into two or more series and different dates fixed for the bonds of each series. The maximum term which the bonds of any series shall run before maturity shall not exceed 40 years from the date of each series respectively. (Added by Stats. 1959, Ch. 1598.)

Last verified: January 11, 2026

Key Terms

bonds series maximum term 40 years maturity

References

Official text at leginfo.legislature.ca.gov
California Legislature. Harbors and Navigation Code. Section 7217.

Key Takeaways

Example

Key Terms

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References

Key Takeaways

Example

Key Terms

Related Statutes

References