California § 53356.05 - The bond indenture or other bond documents may provide that the legislative body
Full text of California Public Contract Code - PCC § 53356.05 — The bond indenture or other bond documents may provide that the legislative body, with citation guidance and answers to common questions.
§ 53356.05. The bond indenture or other bond documents may provide that the legislative body
The bond indenture or other bond documents may provide that the legislative body agrees to notify one or more parties, including the underwriter or other first purchaser of the bonds, an appropriate national repository for bond information approved by the Securities and Exchange Commission, or the California Debt and Investment Advisory Commission, if specified events occur that may affect the market value of outstanding bonds. These events may include, but are not limited to, the following, for example: (a) Withdrawal of funds from any reserve fund for the bonds, such that the balance in the fund falls below a specified percentage of the amount required by bond documents. (b) Draw upon a letter of credit or other credit enhancement for the bonds. (c) Filing for bankruptcy by a developer or other owner of more than a specified percentage of the area or property value within the district. (d) Unforeseen discovery of toxic materials or rare and endangered plant or animal species within areas of the district proposed for development.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 53356.05
What does Public Contract Code - PCC § 53356.05 cover?
Section 53356.05 ("The bond indenture or other bond documents may provide that the legislative body") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 53356.05?
A common citation format is "Public Contract Code - PCC § 53356.05" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 53356.05 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.