(a) A resolution providing for the issuance of bonds pursuant to this chapter shall state all of the following:
(1) The purposes for which the proposed debt is to be incurred, which may include all costs and estimated costs incidental to, or connected with, the accomplishment of those purposes, including without limitation, engineering, inspection, legal, fiscal agents, financial consultant and other fees, bond and other reserve funds, working capital, bond interest estimated to accrue during the construction period and for a period not to exceed three years thereafter, and expenses of all proceedings for the authorization, issuance, and sale of the bonds.
(2) The estimated cost of accomplishing those purposes.
(3) The amount of the principal of the indebtedness.
(4) The maximum term the bonds proposed to be issued shall run before maturity, which shall not be beyond the date of termination of the imposition of the retail transactions and use tax.
(5) The maximum rate of interest to be paid, which shall not exceed the maximum rate allowed by Section 53531 of the Government Code, payable at intervals determined by the agency.
(6) The denomination or denominations of the bonds, which shall not be less than five thousand dollars ($5,000).
(7) The form of the bonds, including, without limitation, registered bonds and coupon bonds, to the extent permitted by federal law, and the form of any coupons to be attached thereto, the registration, conversion, and exchange privileges, if any, pertaining thereto, and the time when all, or any part, of the principal becomes due and payable.
(b) The resolution may also contain any other matters authorized by this chapter or any other law.
(Added by Stats. 1989, Ch. 1335, Sec. 1.5.)
Last modified: October 25, 2018