ARTICLE 2. Revenue Bonds

Article 2 added by Stats. 1947, Ch. 822.

§§ 26415–26453 · 39 sections

§ 26415 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…
§ 26416 The board shall determine the time, form and manner of the issuance of revenue bonds.
§ 26417 The board may enter into indentures providing for the aggregate principal amount, date, or dates, maturities, interest rate, denominations, form, registration…
§ 26418 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…
§ 26419 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…
§ 26420 An indenture may include a clause relating to the bonds issued thereunder requiring the board to continuously operate all projects acquired, constructed, or…
§ 26421 An indenture may include a clause relating to the bonds issued thereunder requiring the board to make all needful and necessary repairs, renewals and…
§ 26422 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…
§ 26423 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…
§ 26424 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…
§ 26425 An indenture may include a clause relating to the bonds issued thereunder requiring the board to fix, prescribe and collect fees, tolls, rentals or other…
§ 26426 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…
§ 26427 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…
§ 26428 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…
§ 26429 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 project,…
§ 26430 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…
§ 26431 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,…
§ 26432 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…
§ 26433 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…
§ 26434 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…
§ 26435 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…
§ 26436 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…
§ 26437 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…
§ 26438 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…
§ 26439 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…
§ 26440 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…
§ 26441 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…
§ 26442 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…
§ 26443 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…
§ 26444 The board may provide for the security of the bonds.
§ 26445 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…
§ 26446 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…
§ 26447 Pending the actual issuance or delivery of revenue bonds, the board may issue temporary or interim bonds, certificates or receipts of any denominations…
§ 26448 All bonds, and the interest or income therefrom, are exempt from all taxation in this State other than gift, inheritance and estate taxes.
§ 26449 All bonds issued under this chapter shall be legal investments for both public and private funds.
§ 26450 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.…
§ 26451 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…
§ 26452 All bonds issued under the provisions of this chapter are negotiable instruments, except when registered in the name of a registered owner.
§ 26453 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…