DIVISION 6. PUBLIC BONDS AND OBLIGATIONS [5000. - 5979.]
Division 6 enacted by Stats. 1943, Ch. 134.
§§ 5000–5979 · 134 sections
CHAPTER 1. Registration of Bonds §§ 5000–5009 · 10 sections
- § 5000 The owner of any coupon bond, or of any bond payable to bearer, issued by the State, or any county, municipal corporation, or other public corporation in the…
- § 5001 The treasurer, or officer performing the duties of treasurer, shall cut off and cancel the coupons of a coupon bond so presented, and shall stamp, print, or…
- § 5002 The statement may be in substantially the following form: (Date, giving month, year, and day.) This bond is registered pursuant to the statute in such cases…
- § 5003 After any bond is registered, the principal and interest of the bond are payable to the registered owner.
- § 5004 The treasurer, or other officer performing the duties of treasurer, shall keep in his office a book which shall at all times show what bonds are registered and…
- § 5005 After a bond is registered it may be transferred from time to time by the registered owner, in person or by attorney, on presentation of the bond to the…
- § 5006 Notwithstanding any provision to the contrary in any law or municipal charter authorizing the issuance of bonds, whenever under any statute of the State or any…
- § 5007 Any legislative or governing body which authorizes the issuance of bonds of any county, city and county, city, municipal corporation, public district, public…
- § 5008 The treasurer, or officer performing the duties of treasurer, of any county, district, municipal corporation, or other public corporation in the State shall be…
- § 5009 All moneys received by the State Treasurer under this chapter shall be paid monthly into the State Treasury for credit to the General Fund.
CHAPTER 1.5. Registered Public Obligations §§ 5050–5062 · 13 sections
- § 5050 This chapter may be cited as the Registered Public Obligations Act of California.
- § 5051 As used in this chapter, the following terms have the following meanings, unless the context otherwise requires: (a) “Authorized officer” means any individual…
- § 5052 (a) The code provides that interest with respect to certain obligations may not be exempt from federal income taxation unless they are in registered form. It…
- § 5053 (a) Each issuer is authorized to establish and maintain a system of registration with respect to each obligation which it issues. The system may either be (1)…
- § 5054 (a) A certificated registered public obligation shall be executed by the issuer by the manual or facsimile signature or signatures of authorized officers. Any…
- § 5055 (a) Any certificated registered public obligation signed by the authorized officers at the time of the signing thereof shall remain valid and binding,…
- § 5056 When a seal is required or permitted in the execution of any certificated registered public obligation, an authorized officer may cause the seal to be printed,…
- § 5057 (a) An issuer may appoint for such term as may be agreed, including for so long as a registered public obligation may be outstanding, corporate or other…
- § 5058 (a) An issuer, prior to or at original issuance of registered public obligations, may provide as a part of a system of registration that the transferor or…
- § 5059 Obligations issued by public entities under the laws of this state, which are in registered form, whether or not represented by an instrument, and which,…
- § 5060 (a) Records, with regard to the ownership of or security interests in registered public obligations, are not subject to inspection or copying under any law of…
- § 5061 (a) Unless at any time prior to or at original issuance of a registered public obligation the official or official body of the issuer determines otherwise,…
- § 5062 This chapter shall be construed in conjunction with the Uniform Commercial Code and the principles of contract law relative to the registration and transfer of…
CHAPTER 2. Protection of Bond Guarantors §§ 5100–5108 · 9 sections
- § 5100 This chapter shall be liberally construed to the end that the purpose hereof may be made effective.
- § 5101 As used in this chapter, “bonds” means State, county, municipal, or other public corporation or district bonds.
- § 5102 As used in this chapter, “guarantor” means the person or persons guaranteeing the payment of bonds, the repurchase thereof, or the payment or repurchase of any…
- § 5103 As used in this chapter, “issuing body” means the State, any subdivision thereof, municipality, public corporation, or district.
- § 5104 As used in this chapter, “order” means declaration, proclamation, or order of any officer or court having jurisdiction to make the declaration, proclamation,…
- § 5105 Whenever by operation of law or by order the bonded indebtedness of any issuing body is reduced in amount, the interest thereon reduced, the time for the…
- § 5106 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…
- § 5107 The relief of guarantors is limited to the extent of defaults in principal, interest, or both principal and interest of the bonds guaranteed.
- § 5108 If the guarantors function in the capacity of trustee or if the custody of the bonds is in the possession of a trustee, and administered by the trustee, he…
CHAPTER 4. Signatures §§ 5300–5304 · 5 sections
- § 5300 As used in this chapter, “bond” means any bond and the interest coupons attached thereto issued by any public body.
- § 5301 As used in this chapter, “public body” means any county, city, district, or any other political subdivision of the State.
- § 5302 (a) Wherever any statute requires that any bond issued by a public body be signed, manually by two or more officers or other individuals, all signatures and…
- § 5303 Whenever under any law of this State, or under the provisions of any ordinance, resolution or order, bonds of any public body are required or permitted to be…
- § 5304 If any officer or deputy whose signature, countersignature or attestation appears on bonds or coupons ceases to be such officer or deputy before delivery of…
CHAPTER 5. Tax or Assessment Levy for Unsold Bonds §§ 5400–5404 · 5 sections
- § 5400 “Public body” as used in this chapter means any county, city and county, city, public district, public authority or other public corporation which is…
- § 5401 “Bonds” as used in this chapter means any bonds or other evidences of indebtedness the principal and interest of which are payable or may be paid from ad…
- § 5402 “Governing body” as used in this chapter means the board of supervisors, city council, board of directors or other legislative or governing body which has the…
- § 5403 When bonds to be issued by or on behalf of a public body have been authorized by an election or other method provided by law, and where it is expected that all…
- § 5404 If at any time following the levy of the tax or assessment authorized by Section 5403, the board, council or other body having the power to sell the bonds…
CHAPTER 5.5. Collateral Security for Bonds §§ 5450–5452 · 6 sections
- § 5450 (a) “Bonds” means any bonds, notes, bond anticipation notes, commercial paper, or other evidences of indebtedness, or lease, installment purchase, or other…
- § 5451 (a) A pledge of collateral by any public body to secure, directly or indirectly, the payment of the principal or redemption price of, or interest on, any…
- § 5451.5 (a) All obligations of the West Contra Costa Healthcare District in connection with any and all certificates of participation executed and delivered by or on…
- § 5451.7 (a) All obligations of the Palm Drive Health Care District in connection with any and all certificates of participation executed and delivered, or revenue…
- § 5451.8 (a) (1) All obligations of the City of Alameda Health Care District in connection with any and all certificates of participation executed and delivered by or…
- § 5452 Nothing in this chapter shall be construed to authorize new or increased authority to issue bonds.
CHAPTER 6. Uniform Facsimile Signatures of Public Officials Act §§ 5500–5506 · 7 sections
- § 5500 As used in this chapter: (a) “Public security” means a bond, note, certificate of indebtedness, or other obligation for the payment of money, issued by any…
- § 5501 Any authorized officer may, after filing with the Secretary of State his manual signature certified by him under oath, execute or cause to be executed with a…
- § 5502 When the seal of this State or any of its departments, agencies, or other instrumentalities, or of any county, city, or public district, is required in the…
- § 5503 Any person who with intent to defraud uses on a public security or an instrument of payment; (a) A facsimile signature, or any reproduction of it, of any…
- § 5504 This act shall be so construed as to effectuate its general purpose to make uniform the law of states which enact it.
- § 5505 This chapter may be cited as the Uniform Facsimile Signature of Public Officials Act.
- § 5506 If any provision of this chapter or the application thereof to any person or circumstance is held invalid, the invalidity shall not affect other provisions or…
CHAPTER 7. Denominations §§ 5600–5604 · 5 sections
- § 5600 “Public body” as used in this chapter means any county, city and county, city, public district, public authority or other public corporation, or any agency of…
- § 5601 “Bonds” as used in this chapter means bonds, warrants, notes and other evidences of indebtedness issued by or on behalf of any public body.
- § 5602 “Governing body” means a board of supervisors, city council, board of directors or other legislative or governing body which has the power to provide for the…
- § 5603 Any provision of law specifying the maximum or minimum denomination of bonds to the contrary notwithstanding, a governing body in its ordinance, resolution or…
- § 5604 A governing body, in its ordinance, resolution or order providing for the issuance of any bonds, may provide a method whereby, at any time after the original…
CHAPTER 8. Contracts Concerning Public Securities §§ 5650–5652 · 3 sections
- § 5650 As used in this chapter, “public securities” means any issue of bonds, notes, warrants or other evidences of indebtedness and the interest coupons, if any,…
- § 5651 As used in this chapter, “public body” means any county, city and county, city, municipal corporation, political subdivision, public district, public…
- § 5652 No public body shall enter into any contract which provides that such public body shall be furnished any report relating to the financial feasibility of any…
CHAPTER 9. Sale of State Bonds §§ 5700–5703 · 4 sections
- § 5700 “Bonds” as used in this chapter means (a) any bonds or other evidences of indebtedness issued after the effective date of this chapter by the state or any…
- § 5701 The provisions of this chapter apply to every bond regardless of any other provision of law or any provision of the bond’s authorization.
- § 5702 The State Treasurer shall be the sole agent for offering and selling bonds. In selling bonds on behalf of any department of state government or agency of the…
- § 5703 (a) Except as provided in subdivisions (b), (c), and (d), the Treasurer, in exercising the duties of agent for offering and selling bonds, whose duties…
CHAPTER 9.5. California Savings Bond Program §§ 5750–5755 · 6 sections
- § 5750 The Legislature finds and declares all of the following: (a) There is a growing need for the state to finance capital projects to renew and expand the state’s…
- § 5751 As used in this chapter, the following terms have the following meanings: (a) “Bonds” means general obligation bonds, revenue bonds, or any derivative evidence…
- § 5752 The Treasurer may sell California savings bonds in accordance with the requirements of this chapter. Notwithstanding any provision of law, when the Treasurer…
- § 5753 In arranging the sale of bonds, the Treasurer may impose the following requirements on any financial institution that sells the bonds to the public: (a)…
- § 5754 (a) A person who redeems California savings bonds and who has owned the bonds for at least five years, or a person designated by the owner, may exclude the…
- § 5755 The general authority of the Treasurer to sell bonds, as provided in this chapter, is intended to be in addition to, and not limited by, specific provisions…
CHAPTER 10. Sale of Local Securities §§ 5800–5809 · 10 sections
- § 5800 As used in this chapter, “nonprofit corporation” means any nonprofit corporation formed under the Corporations Code, or otherwise, which proposes to aid any…
- § 5801 As used in this chapter, “joint powers authority” means any entity defined in Section 6542.
- § 5802 As used in this chapter, “parking authority” means any entity created pursuant to Division 18 (commencing with Section 31500) of the Streets and Highways Code.
- § 5803 As used in this chapter, “issuer” means a nonprofit corporation, a joint powers authority or a parking authority.
- § 5804 As used in this chapter, “public body” means any county, city and county, city, municipal corporation, political subdivision, public district, public…
- § 5805 As used in this chapter, “securities” means any bonds, notes, warrants or other evidences of indebtedness and the interest coupons, if any, attached thereto,…
- § 5806 As used in this chapter, “public project” means any land, structure, facility or equipment or other personal property, the acquisition, construction or…
- § 5807 As used in this chapter, “public leaseback” means any lease by a public body of all or any part of a public project where the lease is between such public body…
- § 5808 (a) Before selling any securities, any issuer shall advertise such securities for sale at public sale and shall invite sealed bids therefor by publication of a…
- § 5809 All securities as defined in Section 5805, and all bonds, notes, warrants or other evidences of indebtedness of an issuer in an aggregate principal amount less…
CHAPTER 10.5. General Bond Provisions §§ 5850–5854 · 6 sections
- § 5850 As used in this chapter: (a) “Bonds” means any bonds, notes, certificates of indebtedness or other evidences of indebtedness issued after January 1, 1989, by a…
- § 5851 Notwithstanding any other provision of law specifying that interest on bonds is payable semiannually, interest on bonds is payable at the times established in…
- § 5852 Notwithstanding any other provision of law specifying that bonds shall be issued pursuant to a resolution of a governing body of a public body, a governing…
- § 5852.1 (a) (1) Prior to authorization of the issuance of bonds with a term greater than 13 months pursuant to this chapter, the governing body of a public body shall…
- § 5853 The general authority provided in this chapter is intended to be in addition to, and not limited by, specific provisions authorizing the issuance of bonds,…
- § 5854 Section 3 of Article XIIIC of the California Constitution, as adopted at the November 5, 1996, general election, shall not be construed to mean that any owner…
CHAPTER 10.7. Conduit Financing Transparency and Accountability §§ 5870–5872 · 3 sections
- § 5870 As used in this chapter, the following definitions apply: (a) “Conduit financing” means the issuance of conduit revenue bonds. (b) “Conduit financing provider”…
- § 5871 A conduit financing provider shall make the following information available on its Internet Web site, to the extent that it maintains an Internet Web site: (a)…
- § 5872 (a) When an audit of a conduit financing provider’s accounts and records is required by law, in addition to any other requirements, the audit shall include all…
CHAPTER 11. Public Financing §§ 5900–5909 · 11 sections
- § 5900 The Legislature finds and declares all of the following: (a) The ability of the state and local governments to issue bonds is essential to their ability to…
- § 5901 It is the intent of the Legislature that state and local governments be provided with the powers and flexibility necessary and appropriate for them to access…
- § 5902 As used in this chapter, the following words and terms shall have the following meanings, unless the context otherwise indicates or requires another or…
- § 5903 If, prior to issuing any bonds, the legislative body determines that the interest payable on the bonds to be issued by the state or local government will be…
- § 5903.5 Section 5903 shall apply to any bonds the interest on which will not be subject to federal income taxation under the law in existence on the date of issuance…
- § 5904 The state or a local government may take any actions, and enter into any agreements, necessary or appropriate to register or qualify the bonds described in…
- § 5905 One or more state or local governments may cause to be formed, and may acquire all, but not less than all, of the voting stock in, one or more corporations,…
- § 5906 Any bonds issued by a state or local government pursuant to this chapter, or otherwise, and the purchasers or holders thereof, shall be exempt from the usury…
- § 5907 This chapter shall not affect bonds approved by the voters of the state or local government issuer prior to the effective date of this chapter, to the extent…
- § 5908 The authority conferred by this chapter includes the authority to enter into any and all contracts incident to the exercise of the authority conferred by this…
- § 5909 To the extent that the provisions of this chapter are inconsistent with any other provision of general law or special act or any part thereof, now or hereafter…
CHAPTER 12. Public Finance Contracts §§ 5920–5925 · 7 sections
- § 5920 The Legislature finds and declares that the incurring or carrying of obligations and making and managing of investments by state and local governments involves…
- § 5921 As used in this chapter, the following definitions apply, unless the context otherwise indicates or requires another or different meaning or intent: (a)…
- § 5921.5 For purposes of this chapter, in addition to any other authorization provided by law, the Treasurer may enter into and manage on behalf of the state any…
- § 5922 Notwithstanding any other provision of law, all of the following apply: (a) (1) In connection with, or incidental to, the issuance or carrying of bonds, or…
- § 5923 (a) To the extent that this chapter is inconsistent with any other general statute or special act or parts thereof, now or hereafter enacted, this chapter is…
- § 5924 (a) (1) Notwithstanding Section 13340, there is hereby continuously appropriated without regard to fiscal years, from the General Fund in the State Treasury…
- § 5925 The purchase or other acquisition of bonds by or on behalf of the state or local government that issued the bonds does not cancel, extinguish, or otherwise…
CHAPTER 13. Fractional Interest in Local Agency Obligations §§ 5950–5955 · 6 sections
- § 5950 As used in this chapter: (a) “Accredited investor” has the meaning specified in Rule 501 of the Securities Act of 1933. (b) “In this state” has the meaning…
- § 5951 It is unlawful for any person to offer or sell in an issuer transaction in this state, or otherwise knowingly to offer or sell in this state, any security…
- § 5952 Any consent granted by a local agency under Section 5951 shall be conclusively evidenced by a resolution of the governing body of the local agency, or by a…
- § 5953 No local agency that consents to an offer or sale of a security that constitutes a fractional interest in a lease, installment sale, or other obligation of the…
- § 5954 Any person who violates this chapter shall upon conviction be fined not more than ten million dollars ($10,000,000), or imprisoned pursuant to subdivision (h)…
- § 5955 The obtaining of local agency consent to an offer or sale of a security under Section 5951 shall not obviate the necessity of qualification of the offer or…
CHAPTER 14. Infrastructure Financing §§ 5956–5956.10 · 11 sections
- § 5956 Local governmental agencies have experienced a significant decrease in available tax revenues to fund necessary infrastructure improvements. If local…
- § 5956.1 It is the intent of the Legislature that local governmental agencies have the authority and flexibility to utilize private investment capital to study, plan,…
- § 5956.2 It is the intent of the Legislature that this chapter be construed as creating a new and independent authority for local governmental agencies to utilize…
- § 5956.3 (a) For purposes of this chapter, “governmental agency” includes a city, county, city and county, including a chartered city or county, school district,…
- § 5956.4 A governmental agency may solicit proposals and enter into agreements with private entities for the design, construction, or reconstruction by, and may lease…
- § 5956.5 Notwithstanding Chapter 10 (commencing with Section 4525) of Division 5, or Part 2 (commencing with Section 10100) or Part 3 (commencing with Section 20100) of…
- § 5956.6 (a) For purposes of facilitating projects, the agreements specified in Section 5956.4 may include provisions for the lease of rights-of-way in, and airspace…
- § 5956.7 (a) The governmental agency may exercise any power possessed by it with respect to the development and construction of infrastructure projects pursuant to this…
- § 5956.8 The plans and specifications for each project constructed pursuant to this chapter shall comply with all applicable governmental design standards for that…
- § 5956.9 In order to use the authority conferred by this chapter to the maximum extent, a governmental agency may use private infrastructure financing pursuant to this…
- § 5956.10 (a) Notwithstanding any other provision of this chapter, neither the state or any state agency shall directly or indirectly use the authority in this chapter…
CHAPTER 14.5. Awarding of Contracts §§ 5970–5971 · 2 sections
- § 5970 As used in this chapter, the following phrases have the following meanings: (a) “Person” means any broker, dealer, municipal securities dealer, investment…
- § 5971 In selecting any person to provide underwriting services, including financial, advisory or other financial services, involving the issuance of securities, the…
CHAPTER 15. Long Beach Civic Center §§ 5975–5979 · 5 sections
- § 5975 As used in this chapter: (a) “Best interests of the city” means a procurement process that is determined by the city to provide the best value and an expedited…
- § 5976 (a) The city may contract and procure the project pursuant to this chapter. (b) The city shall evaluate the project proposals it solicits and receives and…
- § 5977 (a) The project is subject to compliance with the California Environmental Quality Act (Division 13 (commencing with Section 21000) of the Public Resources…
- § 5978 The provisions of this chapter are severable. If any provision of this chapter or its application is held invalid, that invalidity shall not affect other…
- § 5979 The Legislature finds and declares that a special law is necessary and that a general law cannot be made applicable within the meaning of Section 16 of Article…