ARTICLE 5. Senior Obligation Bonds
Heading of Article 5 renumbered from Article 6 by Stats. 1986, Ch. 652, Sec. 4.
§§ 53387–53391 · 13 sections
- § 53387 The legislative body may, by majority vote, initiate proceedings to issue bonds pursuant to this chapter by adopting a resolution stating its intent to issue…
- § 53387.3 The resolution adopted pursuant to Section 53387 shall contain all of the following information: (a) A description of the facilities or work to be undertaken…
- § 53387.7 The clerk of the legislative body shall publish the resolution adopted pursuant to Section 53387 once a day for at least seven successive days in a newspaper…
- § 53388 The legislative body shall submit the proposal to issue the bonds to the voters who reside within the district. Except as otherwise provided in this chapter,…
- § 53388.3 The county shall, if requested by the legislative body of a district created within the boundaries of a city, conduct the election for the district. The…
- § 53388.7 (a) The bonds may be issued if a majority of the voters voting on the proposition vote in favor of issuing the bonds. (b) If the voters approve the issuance of…
- § 53389 The legislative body shall notify the county auditor if the voters approve the issuance of the bonds pursuant to the election conducted in accordance with…
- § 53389.3 When two or more propositions for incurring indebtedness pursuant to this chapter are submitted at the same election, the votes cast for and against each…
- § 53389.7 If any proposition submitted to the voters pursuant to this chapter is defeated by the voters, the legislative body shall not submit, or cause to be submitted,…
- § 53390 The legislative body may, by majority vote, provide for refunding of bonds issued pursuant to this chapter. However, refunding bonds shall not be issued if the…
- § 53390.3 The legislative body or any person executing the bonds shall not be personally liable on the bonds by reason of their issuance. The bonds and other obligations…
- § 53390.7 The bonds may be sold at discount not to exceed 5 percent of par at public sale. At least five days prior to the sale, notice shall be published, pursuant to…
- § 53391 If any member of the legislative body whose signature appears on bonds ceases to be a member of the legislative body before delivery of the bonds, his or her…