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HomePublic Utilities CodeDiv. 9Pt. 2Ch. 5Art. 3§ 22781 Bond Payment Requirements

§ 22781 Bond Payment Requirements

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

§ 22781 Bond Payment Requirements

Key Takeaways

  • •The bonds must be paid back with real U.S. money.
  • •Both the original amount borrowed and the extra money (interest) must be paid in U.S. dollars.
  • •No other type of payment (like goods or foreign money) is allowed.

Example

If the government borrows money by selling bonds to build a school.

They have to pay back the money they borrowed, plus extra (interest), using U.S. dollars. They can't pay with something else, like gold or another country's money.

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

Official Source
View on CA.gov

§ 22781 Bond Payment Requirements

The bonds shall be payable in lawful money of the United States as to principal and interest. (Added by Stats. 1953, Ch. 151.)

Last verified: January 23, 2026

Key Terms

bondslawful money of the United Statesprincipal and interest

Related Statutes

  • § 22782 Bond Payment Location Options
  • § 131280 Transportation Authority Termination
  • § 22778 Bond Issuance Procedures
  • § 22779 Bond Issuance Taxable Property Limit
  • § 22780 Bond Term Limits

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Public Utilities Code. Section 22781.
View Official Source