LawWiki
HomeCodesSearchGlossaryAPIAbout
LawWiki

Plain English summaries of California law with zero-hallucination AI. Every summary is verified against official source text.

Product

  • Search
  • Codes
  • About

Legal

  • Privacy Policy
  • Terms of Service
  • Disclaimer

© 2026 LawWiki. All rights reserved.

HomePublic Utilities CodeDiv. 10Pt. 4Ch. 7Art. 2§ 40243 Bond Signing And Validation

§ 40243 Bond Signing And Validation

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

§ 40243 Bond Signing And Validation

Key Takeaways

  • •The bonds must be signed by the chairman of the board or someone the board picks, plus the treasurer and auditor.
  • •The coupons (interest payment slips) on the bonds must be numbered in order and signed by the treasurer.
  • •Signatures can be printed or stamped, except one must be a real signature.
  • •If someone who signed the bond leaves their job before the bond is sold, their signature still counts.

Example

A school district sells bonds to build a new school.

The school board chairman, treasurer, and auditor must sign the bonds. Even if the treasurer quits before the bonds are sold, their signature is still valid.

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

Official Source
View on CA.gov

§ 40243 Bond Signing And Validation

The bonds shall be signed by the chairman of the board or by such officer of the district as the board shall by resolution authorize and designate for that purpose. They shall also be signed by the treasurer, and be countersigned by the auditor. The coupons of the bonds shall be numbered consecutively and be signed by the treasurer. All signatures and countersignatures, except one of the signatures or countersignatures on the bonds, may be printed, lithographed or engraved. If any officer whose signature or countersignature appears on the bonds or coupons ceases to be such officer before the delivery of the bonds to the purchaser, the signature or countersignature is nevertheless valid and sufficient for all purposes as if he had remained in office until the delivery of the bonds. (Added by Stats. 1965, Ch. 1899.)

Last verified: January 23, 2026

Key Terms

resolutionbondsposition

Related Statutes

  • § 50243 Bond Signing Requirements
  • § 98335 Bond Signing Requirements
  • § 100403 Vta Bond Issuance Authority
  • § 100450 Vta Revenue Bond Authority
  • § 102504 Bond Issuance Authorization Rules

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Public Utilities Code. Section 40243.
View Official Source