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HomePublic Utilities CodeDiv. 12.5Ch. 3§ 131115 Bond Signing Procedures

§ 131115 Bond Signing Procedures

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

§ 131115 Bond Signing Procedures

Key Takeaways

  • •Bonds must be dated, numbered, and signed by the agency's chairperson or vice chairperson and the auditor-controller.
  • •The agency's official seal must be attached to the bonds.
  • •Signatures and the seal can be printed or mechanically reproduced, but at least one signature must be manually signed.
  • •If an officer who signed the bonds leaves their job before the bonds are delivered, their signature is still valid.

Example

A city issues bonds to fund a new park. The bonds are signed by the city's mayor and auditor.

Even if the mayor resigns before the bonds are given out, their signature is still valid, and the bonds can be used.

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

Official Source
View on CA.gov

§ 131115 Bond Signing Procedures

The bonds, or each series thereof, shall be dated and numbered consecutively and shall be signed by the chairperson or vice chairperson of the agency imposing the retail transactions and use tax and the auditor-controller of the agency, and the official seal, if any, of the agency shall be attached. The interest coupons of the bonds shall be signed by the auditor-controller of the agency. All of the signatures and seal may be printed, lithographed, or mechanically reproduced, except that one of the signatures shall be manually affixed. If any officer whose signature appears on the bonds or coupons ceases to be that officer before the delivery of the bonds, the officer’s signature is as effective as if the officer had remained in office. (Added by Stats. 1986, Ch. 301, Sec. 3. Effective July 14, 1986.)

Last verified: January 23, 2026

Key Terms

bondsretail transactions and use taxauditor-controllerofficial sealinterest coupons

Related Statutes

  • § 131108 County Transportation Tax Bonds
  • § 131112 Bond Interest Rate Limit
  • § 131114 Bond Payment Location
  • § 131116 Bond Sale Authority
  • § 131120 Bond Anticipation Notes

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Public Utilities Code. Section 131115.
View Official Source