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§ 3.44.020 — Interest payment dates

Riverside Municipal Code (Supp. No. 33: codified through Ordinance No. 7776, enacted June 23, 2026) · Riverside Municipal Code § 3.44.020

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3.44.020 - Interest payment dates.

In any proceedings leading to the issuance of bonds pursuant to the Improvement Bond Act of 1915, being California Streets and Highways Code § 8500 and following (the "1915 Act" hereinafter), the City Council may provide that interest on such bonds shall be payable on March 2 and September 2 of each year and that principal shall be payable beginning on the September 2 next succeeding 13 months from the date of such bonds, and on each September 2 thereafter until the bonds are paid in full. The first payment of interest may become due not more than 18 months before the maturity of the first series of bonds.

(Ord. 5295 § 1, 1985)