California Government Code 5106 – Whenever by operation of law or by order any issuing body defaults in …
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Whenever by operation of law or by order any issuing body defaults in the payment of its bonded indebtedness, the obligations of guarantors shall be extended for the period of the default but not to exceed three years after the commencement thereof.
(Enacted by Stats. 1943, Ch. 134.)
Terms Used In California Government Code 5106
- issuing body: means the State, any subdivision thereof, municipality, public corporation, or district. See California Government Code 5103
- order: means declaration, proclamation, or order of any officer or court having jurisdiction to make the declaration, proclamation, or order. See California Government Code 5104