§ 13142 Bond Modification Consent Rules

Public Utilities Code·California

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Key Takeaways

•The board can change the rules for bonds they issued if most bond holders agree.
•The board decides what percentage of bond holders need to agree to change the rules.
•This is about making changes to bonds after they are already out there.

Example

Imagine a school sells bonds to build a new playground. Later, they want to change the payment plan.

The school board can change the payment rules if, say, 70% of the people who bought the bonds agree to the new plan.

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

Official Source

View on CA.gov

§ 13142 Bond Modification Consent Rules

The board may provide in the resolution authorizing the issue of any bonds under this chapter the terms and conditions upon which any provision of any resolution of the board constituting a part of the proceedings for the issuance of such bonds, or any provision of such bonds or coupons appurtenant thereto, may be modified if consented to by the holders of any percentage, specified in such resolution authorizing the issue of such bonds, of the aggregate principal amount of the outstanding bonds of such issue. (Added by Stats. 1957, Ch. 2237.)

Last verified: January 23, 2026

Key Terms

bonds resolution board modifications consent bondholders

References

Official text at leginfo.legislature.ca.gov
California Legislature. Public Utilities Code. Section 13142.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References