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HomePublic Utilities CodeDiv. 10Pt. 11Ch. 4Art. 7§ 99369 Bond Issuance Validity Protection

§ 99369 Bond Issuance Validity Protection

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

§ 99369 Bond Issuance Validity Protection

Key Takeaways

  • •If the government issues bonds (like borrowing money) following this law, it means everything was done correctly.
  • •Once the bonds are issued, the taxes collected to pay them back can't be canceled just because of small mistakes in the process.
  • •This only applies if the mistakes weren’t so big that they broke the Constitution’s rules for fair treatment.

Example

A city borrows money to build a new park by selling bonds.

Even if someone later finds a small mistake in the paperwork, the city can still collect taxes to pay back the money. The mistake would have to be really big, like not giving people a fair chance to speak up, to stop the taxes.

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

Official Source
View on CA.gov

§ 99369 Bond Issuance Validity Protection

All bonds issued in pursuance of the provisions of this article shall by their issuance be conclusive evidence of the regularity, validity and legal sufficiency of all proceedings, acts and determinations in any wise pertaining thereto, had or made hereunder; and, after the same have been issued, no sales tax levied or collected for the purpose of paying the principal or interest on the bonds shall be held to be invalid or illegal, or set aside by reason of any error, informality, irregularity, omission or defect in any of the proceedings, acts or determinations in any wise pertaining to the issuance or payment of the bonds, and not amounting to a want of due process of law under the Constitution. (Added by Stats. 1971, Ch. 1400.)

Last verified: January 23, 2026

Key Terms

terminationonce bondsissuancepursuanceevidenceregularityvalidityinformality

Related Statutes

  • § 99371 Bond Validation Challenge Deadline
  • § 823 Utility Securities And Financing
  • § 99322 Bond Issuance Cost Inclusions
  • § 99323 Revenue Bond Payment Limits
  • § 99326 County Bond Revenue Security

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Public Utilities Code. Section 99369.
View Official Source