This law allows the district's board of directors to issue revenue bonds, which are a type of financial instrument. These bonds are backed by future payments that counties within the district are expected to make from levies.

This law section explains that revenue bonds issued by a joint highway district in California must be paid from a specific fund. The fund is named after the district issuing the bonds and is used to ensure all necessary payments are made to retire or pay off the bonds.

This law section states that the board of directors is responsible for deciding the amounts of revenue bonds, which can be of different sizes and will mature at different times. These bonds will have an interest rate capped at 8% per year, as decided by the board.

This section outlines the standard format for revenue bonds issued by a Joint Highway District in California. It describes how the bond should be structured, including the responsibility of the district treasurer to pay the bearer a specified amount at designated times, with interest paid semiannually. The bond must be consistent with the rules in Part 1 of Division 16 of the Streets and Highways Code, and it indicates that all legal requirements for issuing these bonds have been fulfilled. The bond is a commitment from the district, specifying payment from a designated fund, and must be signed and sealed by district officials.

This section explains that revenue bonds have a specific date tied to the board's authorization resolution. The board can use unallocated district funds to pay interest or principal on overdue bonds and will be reimbursed when future funds come in that are meant for bond payments.

This law section states that all revenue bonds must be signed by the district's treasurer and confirmed by the board's secretary, with the district's official seal attached. The treasurer is responsible for deciding the format of the interest coupons attached to the bonds, but the board of directors must approve them. The treasurer's signature on the coupons can be handwritten, engraved, or a printed copy.

This law section deals with how revenue bonds issued by a district are to be paid back. The principal (the initial amount) and interest on these bonds must be paid in U.S. dollars. The bonds are structured so that they are paid off over time in a series of payments, with each payment being roughly equal in amount except for the last one, which covers the remaining balance. The annual payments should not differ by more than $500 from the average payment calculated by dividing the total principal by the number of payments, which can't exceed four.

This law allows the board of directors to issue and sell revenue bonds whenever needed to meet the district's requirements. The bonds can be sold or given directly to contractors as payment for services rendered at their full value.

This law requires the board of directors to collect a yearly tax within their district. The purpose of this tax is to ensure there are enough funds to pay off both the principal and the interest of all revenue bonds that are due each fiscal year.

This law requires the district treasurer to determine annually how much money needs to be collected to pay off any outstanding revenue bonds, including the principal and interest due each fiscal year. The treasurer adds an extra amount to cover possible payment delinquencies. The total amount is then distributed and levied as taxes on all properties taxable for county purposes across the counties in the district based on predetermined percentages for each county.