When any district, having authorized the issuance of a series of bonds, issues an additional series based on another assessment, the dates of maturity of the additional series shall be such that the latest maturities thereof do not exceed 30 years, and the earliest maturity shall be later than the latest maturity of bonds of any earlier series.
BondsAdditional Series
Section § 52240
This law means that if a district issues a new set of bonds based on a different assessment while already having authorized a previous series of bonds, the new bonds must have maturity dates. The new bonds should not mature later than 30 years and should mature after the bonds from any previous series.
district bonds bond issuance additional series
Section § 52241
This section states that the rules and procedures for issuing original bonds also apply to any additional series of bonds, as long as they are relevant.
The provisions of this part relative to the original issue of bonds shall apply to additional series of bonds so far as applicable.
original bonds additional series bond issuance
