ARTICLE 2. Funding Judgments With Bonds
Article 2 added by Stats. 1963, Ch. 1715.
§§ 975–978.8 · 20 sections
- § 975 As used in this article: (a) “Board” means the governing body of a local taxing entity. (b) “Local taxing entity” means a local public entity that has the…
- § 975.2 Whenever the board deems it necessary for the local taxing entity to incur a bonded indebtedness to fund all or any portion of an outstanding judgment against…
- § 975.4 Notice of the hearing shall be given by publication of a copy of the resolution pursuant to Section 6066 in a newspaper of general circulation circulated…
- § 975.6 The copy of the resolution published or posted shall be accompanied by a notice subscribed by the clerk or secretary of the local taxing entity that: (a) The…
- § 975.8 At the time and place fixed for the hearing on the resolution or at any time and place to which the hearing is adjourned, the board shall proceed with the…
- § 976 After the board has made its determination pursuant to Section 975.8, if it deems it necessary to incur the bonded indebtedness, it shall by resolution state:…
- § 976.2 The resolution made pursuant to Section 976 shall constitute the notice of such election and such resolution shall be published pursuant to Section 6066 in a…
- § 976.4 The board shall provide for holding the election in the same manner as provided by law in respect to general elections of the local taxing entity so far as…
- § 976.6 Every elector authorized to vote in general elections of the local taxing entity may vote on the proposition to authorize the bonds.
- § 976.8 If two-thirds or more of the votes cast upon the proposition at the election are in favor of incurring the bonded indebtedness, the board may issue the bonds…
- § 977 The board shall prescribe the form of the bonds. The bonds may be issued in denominations not to exceed one thousand dollars ($1,000) and not less than one…
- § 977.2 The board may provide for the redemption of bonds issued under this article before maturity at prices determined by it. A bond shall not be subject to call or…
- § 977.4 The bonds shall be signed by the presiding officer of the board and countersigned by the clerk or secretary of the local taxing entity, and the coupons shall…
- § 977.6 The local taxing entity may sell the bonds at the times or in the manner the board deems to be to the public interest. The bonds shall be sold on sealed…
- § 977.8 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…
- § 978 Any bonds issued by any local taxing entity under the provisions of this article have the same force, value and use as bonds issued by any municipality and are…
- § 978.2 Bonds issued under this article constitute general obligations of the local taxing entity for the payment of both principal and interest of which all property…
- § 978.4 The proceeds from the sale of bonds issued pursuant to this article shall not be used for any purpose other than the purpose stated in the resolution…
- § 978.6 The board may by resolution adopted by two-thirds vote of all its members declare that no part of a described bond issue authorized under this article which…
- § 978.8 The authority provided in this article is in addition and supplementary to any other law authorizing public entities to issue bonds to fund an outstanding…