ARTICLE 5. Bonds

Article 5 added by Stats. 1982, Ch. 1451, Sec. 1.

§§ 53345–53365.7 · 53 sections

§ 53345 Whenever the legislative body deems it necessary for the community facilities district to incur a bonded indebtedness, it shall, by resolution, set forth all…
§ 53345.3 The amount of the proposed bonded indebtedness may include all costs and estimated costs incidental to, or connected with, the accomplishment of the purpose…
§ 53345.8 (a) The legislative body may sell bonds pursuant to this chapter only if it determines prior to the award of sale of bonds that the value of the real property…
§ 53346 The clerk of the legislative body shall publish a notice of the hearing pursuant to Section 6061 in a newspaper of general circulation circulated within the…
§ 53348 At the time and place fixed for the hearing on the resolution declaring the necessity for incurring the bonded indebtedness or at any time and place to which…
§ 53349 At the hearing any person interested, including persons owning property within the area, may appear and present any matters material to the questions set forth…
§ 53350 (a) For purposes of financing of, or contributing to the financing of, specified public facilities, the legislative body may by resolution designate a portion…
§ 53351 After the legislative body has made its determination pursuant to Section 53350, if it deems it necessary to incur the bonded indebtedness, it shall by…
§ 53352 The resolution provided for in Section 53351 shall constitute the notice of such special bond election and such resolution shall be published in a newspaper of…
§ 53353.5 (a) Propositions relating to the levy of a special tax, the incurring of bonded indebtedness, or to establish or change an appropriations limit, or any…
§ 53354 If the area designated in the resolution adopted pursuant to Section 53351 does not include the entire community facilities district, a separate ballot shall…
§ 53355 A two-thirds vote shall be required for the issuance of bonds under authority of this chapter.
§ 53355.5 (a) As an alternate and independent procedure for conducting an election on the proposition to authorize bonded indebtedness for a community facilities…
§ 53355.7 The refusal by a person to undertake or cause to be undertaken an act relating to Chapter 2.5 (commencing with Section 53311) of Part 1 of Division 2 of Title…
§ 53356 If more than two-thirds of the votes cast at the election are in favor of incurring the indebtedness, the legislative body may, by resolution, at the time or…
§ 53356.03 The proceeds of any bond, note, or other security issued pursuant to this chapter, or the proceeds of any bond, note, or other security issued pursuant to any…
§ 53356.05 The bond indenture or other bond documents may provide that the legislative body agrees to notify one or more parties, including the underwriter or other first…
§ 53356.1 (a) As a cumulative remedy, if debt is outstanding, the legislative body may, not later than four years after the due date of the last installment of principal…
§ 53356.1.5 (a) This section applies if delinquent special taxes, together with any penalties, interest, and costs, are collected through the sale of the property by the…
§ 53356.2 (a) When any foreclosure actions are ordered by the local agency or legislative body, or when subsequent installments and interest that are also to be made the…
§ 53356.3 At any time after the tax collector has been relieved of his or her duty to collect sums under Section 53356.2 and before judgment in a foreclosure action, the…
§ 53356.4 The foreclosure action shall be brought in the name of the local agency or trustee on behalf of the bondholders pursuant to Section 53356.1, and may be brought…
§ 53356.5 (a) Any judgment shall decree the amount of the continuing lien against each parcel to be foreclosed, and shall order the parcel to be sold on execution as in…
§ 53356.6 Property sold hereunder may not be sold for less than the amount of the judgment plus postjudgment interest and authorized costs without the consent of the…
§ 53356.7 No special tax installment, interest or penalties thereon, or deed shall be held invalid for any error in computation if the error is found to be comparatively…
§ 53356.8 Provided the legislative body permits bonds or debt to be tendered for special taxes and the penalties and interest thereon pursuant to Section 53344.1, if the…
§ 53356.9 (a) Notwithstanding any other provision of this chapter or any other provision of law applicable to foreclosure action, the judgment of foreclosure and sale of…
§ 53357 The bonds shall be signed by the chairperson of the legislative body and countersigned by the clerk of the legislative body or his or her deputy. All…
§ 53357.1 (a) In connection with the issuance of bonds in which a property owner agrees, by written consent, to disclose certain information on a continuous basis…
§ 53358 When the legislative body provides for the fixing and levying of special taxes and charges for the community facilities district it shall also provide for the…
§ 53359 An action to determine the validity of bonds issued pursuant to this chapter or the validity of any special taxes levied pursuant to this chapter may be…
§ 53359.5 (a) The legislative body shall, no later than 30 days prior to the sale of any bonds pursuant to this article, give written notice of the proposed sale to the…
§ 53359.7 Current information on the items listed in Section 53359.5 is a matter of public record, within the meaning of the California Public Records Act (Division 10…
§ 53360 The community facilities district may sell the bonds so issued at the times or in the manner the legislative body deems to be to the public interest. However,…
§ 53360.4 Notwithstanding Section 53360, the legislative body may sell bonds at private sale, without advertising for bids, if the legislative body determines that the…
§ 53360.7 The legislative body may provide that bonds shall bear a variable interest rate, and for the manner and intervals in which the rate shall vary. The variable…
§ 53361 Any bonds issued by a district organized under the provisions of this chapter are hereby given the same force, value and use as bonds issued by any…
§ 53361.1 All bonds issued by any district payable from taxes or charges are legal investments for all trust funds, for the trust funds of all insurance companies, the…
§ 53362 The legislative body may, by resolution, issue new bonds to refund any or all of the district bonds outstanding or improvement area bonds outstanding that have…
§ 53362.5 Refunding bonds shall not be issued if the total interest cost to maturity on the refunding bonds plus the principal amount of the refunding bonds exceeds the…
§ 53362.7 The total authorized amount of the bonded indebtedness of a district or an improvement area therein, as approved by the qualified voter thereof, shall not be…
§ 53363 Except as otherwise provided in this article, the legislative body may issue refunding bonds without repeating any of the procedures required for the approval…
§ 53363.2 If the legislative body determines to issue refunding bonds pursuant to this article it shall adopt a resolution providing for their issuance. The resolution…
§ 53363.5 Any refunding bonds issued pursuant to this article may be exchanged for the bonds to be refunded on such basis as the legislative body determines is for the…
§ 53363.7 The designated costs of issuing the refunding bonds, as defined by Section 53363.8, may be paid by the purchaser of the refunding bonds or may be paid from any…
§ 53363.8 For purposes of this article, the term “designated costs of issuing the refunding bonds” means any of the following costs and expenses designated by the…
§ 53363.9 (a) The proceeds and investments in the “refunding fund” shall be in an amount sufficient to meet either the requirements of paragraph (1) or paragraph (2) at…
§ 53364 Following the issuance of any refunding bonds pursuant to this article, the treasurer of the local agency shall provide for the payment of principal and…
§ 53364.2 (a) If further facilities or services are authorized to be financed by the district, savings achieved through the issuance of refunding bonds may be used by…
§ 53364.5 Any bonds issued by the district may be made callable by resolution of the legislative body adopted at or prior to the time of issuing the bonds. When bonds…
§ 53365 Notice designating the bonds called for redemption shall be mailed to the underwriter or other first purchaser and to the registered owners of the bonds to be…
§ 53365.5 If on the date fixed for redemption, the area has provided funds available for payment of the principal and interest of the bonds called, interest on the bonds…
§ 53365.7 (a) The legislative body may, by resolution and without the necessity of calling and holding an election, borrow money in anticipation of the sale of bonds…