CHAPTER 5. Community College Revenue Bond Act of 1961 [81901. - 81966.]

Chapter 5 added by Stats. 1982, Ch. 251, Sec. 28.

§§ 81901–81966 · 42 sections

§ 81901 (a) The governing board of any community college district may issue revenue bonds pursuant to this chapter. (b) The board, for the purpose of this chapter, has…
§ 81902 The following terms wherever used in this chapter, or in any indenture entered into pursuant to this chapter, have the following meanings, unless a different…
§ 81904 The validity of the authorization and issuance of any revenue bonds by the board is not dependent on or affected in any way by: (a) Proceedings taken by the…
§ 81905 The board shall issue revenue bonds in its name and as its obligation, but no bond issued or sold pursuant to this chapter shall be or become a lien, charge,…
§ 81907 The community college board may enter into indentures providing for the aggregate principal amount, date or dates, maturities, interest rates, denominations,…
§ 81908 (a) An indenture pursuant to which bonds are issued may include any and all covenants and agreements on the part of the board as the board deems necessary or…
§ 81909 An indenture may provide that payments of principal and interest of bonds shall be secured by all or by part of revenues.
§ 81925 The county treasurer shall act as trustee for the board and the holders of bonds issued pursuant to this chapter. The board may authorize the trustee to act on…
§ 81926 The board shall prescribe the duties and powers of the trustee with respect to the issuance, authentication, sale, and delivery of the bonds and the payment of…
§ 81927 The board may provide for one or several issues of bonds and may issue bonds in series or may divide any issue into one or more divisions and fix different…
§ 81928 Bonds may be issued as coupon bonds or as registered bonds. The board may provide for the interchange of coupon bonds for registered bonds and registered bonds…
§ 81929.5 Bonds shall bear interest at a rate of not to exceed 12 percent per annum, payable annually or semiannually, or in part annually and in part semiannually.
§ 81930 Bonds may be callable upon such terms and conditions, and upon such notice, as the board may determine, and upon the payment of such premium as may be fixed by…
§ 81932 The board may provide for the execution and authentication of bonds by the manual, or by lithographed or printed facsimile, signature of officers of the board…
§ 81933 Bonds shall bear dates prescribed by the board. Bonds may be serial bonds or sinking fund bonds with such maturities as the board may determine. No bond by its…
§ 81934 Immediately after the adoption of a resolution by the board, directing the preparation of any bonds authorized under this chapter, the county treasurer shall…
§ 81935 When the bonds authorized to be issued under this chapter are duly executed, they shall be sold by the county treasurer, for cash, in such parcels and numbers…
§ 81936.5 Bonds may be sold at either public or private sale. The board may fix terms and conditions for the sale or other disposition of any authorized issue of bonds.…
§ 81937 The board may provide for the security of bonds. The board may use and expend all or any part of any funds or proceeds of any property owned by it, whether…
§ 81938 All costs and expenses incident to the issuance and sale of bonds may be paid out of the proceeds of the sale of the bonds. Interest on bonds may be paid out…
§ 81939 The board may provide that the bonds and the interest thereon shall be secured by all or by part of revenues of a project upon the basis of which revenue bonds…
§ 81940 Pending the actual issuance or delivery of revenue bonds, the board may issue temporary or interim bonds, certificates or receipts of any denomination…
§ 81941 The board may provide for the replacement of lost, destroyed, or mutilated bonds or coupons.
§ 81942 Bonds issued pursuant to the provisions of this chapter and the interest or income therefrom are exempt from all taxation in this state other than gift,…
§ 81943 Notwithstanding any other provision of law, all bonds sold and delivered pursuant to this chapter are legal investments for all trust funds and for the funds…
§ 81944 The board may provide for the issuance, sale, or exchange of refunding bonds for the purpose of redeeming or retiring any revenue bonds issued under the…
§ 81945 Funding or refunding bonds may be issued in a principal amount sufficient to provide funds for the payment of all bonds to be funded or refunded thereby, and…
§ 81946 All bonds issued under the provisions of this chapter are negotiable instruments, except when registered in the name of a registered owner.
§ 81947 Before issuing any bonds pursuant to this chapter, the board shall by resolution declare the purpose for which the proceeds of the bonds proposed to be issued…
§ 81949 The board may construct any project and acquire all property necessary therefor on such terms and conditions as it may deem advisable. When any part of the…
§ 81950 Title to all property acquired by the board and the revenues and income therefrom is in the community college district. The title to any moneys, revenues,…
§ 81951 At all times the operation, maintenance, control, repair, construction, reconstruction, alteration, and improvement of any project are vested in the board…
§ 81952 The board may use for the payment of the costs of acquisition, construction, or completion of any project, any funds made available to the board by the State…
§ 81955 When authorized by resolution of the board, as provided in this chapter, the county treasurer shall prepare and procure the printing or engrossing of bonds,…
§ 81956 The board shall fix rents, charges, and fees for all projects acquired, constructed, or completed under the terms of this chapter for the use thereof by any…
§ 81960 The holder of any bond issued pursuant to this chapter may by mandamus or other appropriate proceeding require and compel the performance of any of the duties…
§ 81961 The proceeds from the sale of all bonds authorized under the provisions of this chapter shall be deposited forthwith by the county treasurer, on order of the…
§ 81962 All revenues received from the operation of any project acquired or constructed by the board under the provisions of this chapter shall be transmitted by the…
§ 81963 For the payment of the principal and interest of the bonds authorized to be issued under this chapter, a fund as designated by the California Community…
§ 81964 Any balance remaining in any of the funds created by this chapter after payment of all costs, expenses, and charges authorized to be expended therefrom, may be…
§ 81965 Moneys in the designated construction fund of each district may be invested by the board, subject only to the limitations contained in an indenture providing…
§ 81966 After all of the revenue bonds are fully paid and discharged, or provision for their payment and discharge has been irrevocably made, any surplus moneys in the…