Section 35406 Of Chapter 3. Bonds, Acquisitions And Improvements From California Streets And Highways Code >> Division 18. >> Part 4. >> Chapter 3.

. The bonds shall be issued in such denomination or denominations as the legislative body may prescribe and payable on the day fixed in the bonds, with interest at the rate specified in the bonds. The interest rate shall not be in excess of the maximum stated in the resolution of intention and shall be paid semiannually, except the first interest coupon may be for a different period.