SECTIONS 16740-16743 - California Statutes

GOVERNMENT CODE

SECTION 16740-16743

16740. After the adoption by the committee of any resolution in
conformity with Section 16731, 16731.5, or 16731.6, the Treasurer
shall arrange for the preparation of the requisite number of suitable
bonds or notes, in accordance with the resolution, and in so doing
shall arrange for the imprinting thereon of the matters necessary and
appropriate thereto after the sale of the bonds and the awarding
thereof to the successful bidder.

16741. All bonds shall bear the facsimile signature of the
Governor, the facsimile signature of the Controller, and the
facsimile signature of the Treasurer, and each of the bonds shall
bear an impress or a facsimile of the Great Seal of the State of
California. Each such signature shall be that of the person who shall
be in office at the date of authorizing the affixing thereof. Bonds
and coupons so executed, when sold, shall be valid and binding
notwithstanding any of these persons having ceased to hold their
respective offices before the issuance and delivery of the bonds.

16742. Whenever the committee may determine by resolution that for
any reason any bonds which have been prepared and executed under the
foregoing provisions should not be sold or issued, the State
Treasurer shall cancel them by perforation with a suitable device in
a manner to indicate such cancellation and the date thereof. Upon the
committee so determining by resolution, new bonds, conforming to its
directions, may be prepared and executed in lieu of any bonds so
canceled, and may be sold and issued in the same manner as provided
for other bonds in this chapter.

16743. If the right to do so has been reserved in the resolution
adopted in conformity with Section 16731, 16731.5, or 16731.6,
temporary or interim bonds, notes, certificates, or receipts may be
issued and delivered in lieu of definitive bonds or notes, and shall
be exchangeable for definitive bonds or notes when they are executed
and available for delivery. The temporary securities shall conform to
the resolution, and the signature of the Treasurer alone, which may
be by signature stamp, shall be sufficient execution thereof.