Section 1002.3 Of Article 3. Provisions Of Resolutions Of Issuance And Supplemental Resolutions From California Military And Veterans Code >> Division 4. >> Chapter 7. >> Article 3.
1002.3
. A resolution of issuance may provide for date or dates for
the payment of interest on debentures and the interest rate or rates,
fixed or variable, or the method of determining such rate or rates.
For any authorized issuance of debentures, the resolution may provide
the department with discretion to determine the interest rates and
payment dates, subject to the maximum rate of interest and the method
of determination authorized in the resolution. The first interest
payment may be at any time on or before one year from the date of the
debenture. The resolution may also provide the department with
discretion to obtain credit enhancement or liquidity support for the
authorized debentures and to determine the form of any such
agreement.