CHAPTER 14. Revenue Bonds for County Improvements
Chapter 14 added by Stats. 1947, Ch. 815.
§§ 26301–26400.53 · 78 sections
ARTICLE 1. Authority §§ 26301–26313 · 14 sections
- § 26301 Subject to the provisions of this chapter, boards of supervisors in their respective counties shall have authority to undertake and to issue revenue bonds to…
- § 26302 Each separate improvement shall be designated as a “project.”
- § 26303 If in the opinion of the board, it is advisable that any project be acquired, constructed or completed, in whole or in part, it shall cause a report thereon to…
- § 26304 If the report is approved by the board, the board may adopt a resolution declaring that the public interest and necessity demand the acquisition, construction…
- § 26305 The board has full charge of the acquisition, construction and completion of all projects authorized by it and may proceed with such work subject to the…
- § 26306 The board may institute any proceedings and acquire all real property necessary therefor on such terms and conditions as it deems advisable. Whenever the cost…
- § 26306.5 It is unlawful to split or separate into smaller work orders or projects any project undertaken pursuant to this chapter for the purpose of evading any…
- § 26307 Title to all property acquired under this chapter and the revenue and income therefrom shall be in the name of the county. The title to such property and the…
- § 26308 So long as any bonds issued are outstanding and unpaid, the operation, maintenance, control, repair, construction, alteration and improvement of any project…
- § 26309 The board may only use for the payment of the acquisition, construction, completion, maintenance, or insurance of any project undertaken under the authority of…
- § 26310 The board may insure against any accident to or destruction of any project or any part thereof. Any money collected on such insurance shall be used for the…
- § 26311 The board may insure against loss of revenue from any cause whatever and the proceeds of such insurance shall be used solely for the payment of the bonds and…
- § 26312 The board may insure against public liability or property damage in connection with any project. It may provide in the proceedings authorizing the issuance of…
- § 26313 This chapter provides an alternative procedure to that otherwise provided by law for undertaking the improvements authorized herein and shall not operate to…
ARTICLE 2. Revenue Bonds §§ 26315–26353 · 39 sections
- § 26315 The board shall issue revenue bonds in the name of the county. These bonds shall constitute obligations of the project only, and neither the payment of the…
- § 26316 The board shall determine the time, form and manner of the issuance of revenue bonds.
- § 26317 The board may enter into indentures providing for the aggregate principal amount, date, or dates, maturities, interest rate, denominations, form, registration…
- § 26318 An indenture pursuant to which bonds are issued may include such covenants and agreements on the part of the board as the board deems necessary or advisable…
- § 26319 An indenture may include a clause relating to the bonds issued thereunder requiring the board to pay or cause to be paid punctually the principal of all such…
- § 26320 An indenture may include a clause relating to the bonds issued thereunder requiring the board to continuously operate all improvements acquired, constructed,…
- § 26321 An indenture may include a clause relating to the bonds issued thereunder requiring the board to make all needful and necessary repairs, renewals and…
- § 26322 An indenture may include a clause relating to the bonds issued thereunder requiring the board to preserve and protect the security of the bonds and the rights…
- § 26323 An indenture may include a clause relating to the bonds issued thereunder requiring the board to pay and discharge or cause to be paid and discharged from the…
- § 26324 An indenture may include a clause relating to the bonds issued thereunder which limits, restricts, or prohibits any right, power or privilege of the board to…
- § 26325 An indenture may include a clause relating to the bonds issued thereunder requiring the board to fix, prescribe and collect fees, rates, tolls, rentals or…
- § 26326 An indenture may include a clause relating to the bonds issued thereunder requiring the board to hold in trust the revenues pledged to the payment of such…
- § 26327 An indenture may include a clause limiting the power of the board to apply the proceeds of the sale of any issue of bonds for the acquiring, constructing, or…
- § 26328 An indenture may include a clause limiting the power of the board to issue additional bonds for the purpose of acquiring, constructing or completing any…
- § 26329 An indenture may include a clause requiring, specifying or limiting the kind, amount and character of insurance to be maintained by the board on any…
- § 26330 An indenture may include a clause providing the events of default and the terms and conditions upon which any or all of the bonds then or thereafter issued may…
- § 26331 An indenture may include a clause designating the rights, limitations, powers and duties arising upon breach by the board of any of the covenants, conditions,…
- § 26332 An indenture may include a clause prescribing a procedure by which the terms and conditions of the indenture may be subsequently amended or modified with the…
- § 26333 The indenture may include a clause providing for such other acts and matters as may be necessary or convenient or desirable in order to secure the bonds or to…
- § 26334 The board may designate a bank or trust company, qualified to do business in this State, as a trustee for the holders of bonds issued hereunder, and may…
- § 26335 The board shall fix and determine the conditions upon which any trustee shall receive, hold or disburse any or all revenues collected for or on account of the…
- § 26336 The board may issue bonds in series or may divide any issue into one or more divisions and fix different maturities or dates of such bonds, different rates of…
- § 26337 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…
- § 26338 Bonds shall bear interest at a rate of not to exceed 8 percent per annum, payable annually or semiannually or in part annually and in part semiannually. Prior…
- § 26339 Bonds may be callable upon such terms, conditions, and upon such notice as the board may determine, and upon the payment of the premium fixed by the board in…
- § 26340 The board may provide for the payment of the principal and interest of bonds at any place within or without the State of California, and in specified coin or…
- § 26341 The board may provide for the execution and authentication of bonds by the manual, lithographed or printed facsimile signature of officers of the board. If any…
- § 26342 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…
- § 26343 The board may fix terms and conditions for the sale or other disposition of any authorized issue of bonds. The board may sell bonds at less than their par or…
- § 26344 The board may provide for the security of bonds.
- § 26345 Interest on bonds may be paid out of the proceeds of the sale of the bonds during the actual construction of any project for the acquisition, construction or…
- § 26346 The board may provide in the proceedings for the issuance of bonds that the bonds and the interest thereon constitute such lien upon the revenues of any…
- § 26347 Pending the actual issuance or delivery of revenue bonds, the board may issue temporary or interim bonds, certificates or receipts of any denominations…
- § 26348 All bonds, and the interest or income therefrom, are exempt from all taxation in this State other than gift, inheritance and estate taxes.
- § 26349 The bonds issued under this chapter, except for those revenue bonds issued pursuant to Article 9 (commencing with Section 26400.50), shall be subject to…
- § 26350 The board may provide for the issuance, sale, or exchange of refunding bonds for the purpose of redeeming or retiring any revenue bonds issued by the board.…
- § 26351 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…
- § 26352 All bonds issued under the provisions of this chapter are negotiable instruments, except when registered in the name of a registered owner.
- § 26353 An action to determine the validity of bonds may be brought pursuant to Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil…
ARTICLE 3. Rental Rates, Charges and Fees §§ 26360–26362 · 3 sections
- § 26360 The board shall fix the rental rates, fees and all other charges to be made for all facilities furnished, acquired, constructed or completed under this chapter…
- § 26361 The board may lease all or any portion or portions of the project, or of any of the lands, improvements, concessions, facilities or other property comprising a…
- § 26362 Every contract entered into by the board for the use of any project or part thereof, acquired, constructed or completed from the proceeds of the sale of…
ARTICLE 4. Competitive Projects §§ 26365–26366 · 2 sections
- § 26365 The board may include, in an indenture for the issuance of revenue bonds, a clause that no competitive projects will be acquired or constructed by the board as…
- § 26366 The board may also include in an indenture for the issuance of bonds a clause that no project acquired, constructed or completed from the proceeds of revenue…
ARTICLE 5. Rights of Bondholders §§ 26370–26371 · 2 sections
- § 26370 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…
- § 26371 While any revenue bonds issued by the board remain outstanding, the powers and duties of the board shall not be diminished or impaired in any manner that will…
ARTICLE 6. Contributions and Cooperation §§ 26386–26390 · 5 sections
- § 26386 The board may accept contributions or appropriations from the United States of America, the State of California, or any department or agency of either thereof,…
- § 26387 The board may enter into any contract, arrangement or agreement with the United States, the State or any other municipal corporation or public agency and may…
- § 26388 The board may cooperate and contract with the United States under the War Mobilization and Reconversion Act of 1944, approved October 3, 1944, and any acts…
- § 26389 The board may authorize or direct any county officer, employee or department to perform services for or in connection with the development, construction,…
- § 26390 The board may provide for the construction, maintenance and operation of any project upon any lands owned by the county without regard to the manner in which…
ARTICLE 7. Funds §§ 26393–26397 · 5 sections
- § 26393 The proceeds from the sale of all bonds authorized under the provisions of this chapter shall be paid into the county treasury to the credit of a bond fund or…
- § 26394 If any surplus shall exist in a bond fund or enterprise fund, after the payment in full of all costs of acquisition, construction and completion of the project…
- § 26395 The board may provide for the payment of the interest becoming due and payment on the principal of revenue bonds prior to and during the period of actual…
- § 26396 Moneys in a bond fund or enterprise fund not required to meet acquisition or construction costs or expenses payable from the construction fund or interest on…
- § 26397 All revenues received from the operation of the project acquired, constructed or completed by the board shall be paid into the county treasury to the credit of…
ARTICLE 8. Definition and General Provisions §§ 26398–26400.4 · 4 sections
- § 26398 This chapter shall be liberally construed to carry out its objects and purposes and to finance the construction of needed public improvements through the…
- § 26399 “Bonds” as used in this chapter means the written evidence of any obligation incurred by the board payable out of revenues as provided in this chapter in order…
- § 26400 “Revenue” as used in this chapter shall mean all fees, rates, charges, rentals or other income and revenue actually received or receivable by or for the…
- § 26400.4 This chapter shall not be operative in any county until the board of supervisors, either at a general or a special election, shall submit to the electors of…
ARTICLE 9. Revenue Bonds for County Airports §§ 26400.50–26400.53 · 4 sections
- § 26400.50 This article applies only to the County of Orange and the County of Sacramento and is in addition to any other authority contained in this chapter.
- § 26400.51 The board of supervisors may issue bonds pursuant to this chapter for the purpose of financing the acquisition, construction, maintenance, operation,…
- § 26400.52 Bonds may be issued pursuant to this article under terms and conditions that the board of supervisors determines to be reasonable and without compliance with…
- § 26400.53 Notwithstanding the first two sentences of Section 26307, nothing in this chapter requires the board of supervisors to pledge for the payment of any bonds…