§ 13165 Bond Issuance Completion Rules

• •Bonds are officially 'issued' when they are given to the buyer and the money is received.
• •If bonds are being swapped for new ones, they are 'issued' when the swap happens.
• •Temporary bonds or receipts count as issued if they can be exchanged for real bonds later.

A city sells bonds to raise money for a new park.

The bonds are officially issued when the city gives them to the buyer and gets the money. Even if they give a temporary paper first, it still counts as issued if it can be swapped for the real bond later.