ARTICLE 2. Revenue Bonds

Article 2 added by Stats. 1957, Ch. 2066.

§§ 50715–50753 · 39 sections

§ 50715 The board shall issue revenue bonds in the name of the local agency. These bonds shall constitute obligations of the project only, and neither the payment of…
§ 50716 The board shall determine the time, form and manner of the issuance of revenue bonds.
§ 50717 The board may enter into indentures providing for the aggregate principal amount, date, or dates, maturities, interest rate, denominations, form, registration…
§ 50718 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 advisible…
§ 50719 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…
§ 50720 An indenture may include a clause relating to the bonds issued thereunder requiring the board to continuously operate all improvements acquired, constructed,…
§ 50721 An indenture may include a clause relating to the bonds issued thereunder requiring the board to make all needful and necessary repairs, renewals and…
§ 50722 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…
§ 50723 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…
§ 50724 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…
§ 50725 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…
§ 50726 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…
§ 50727 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…
§ 50728 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…
§ 50729 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…
§ 50730 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…
§ 50731 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,…
§ 50732 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…
§ 50733 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…
§ 50734 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…
§ 50735 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…
§ 50736 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…
§ 50737 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…
§ 50738 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…
§ 50739 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…
§ 50740 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…
§ 50741 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…
§ 50742 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…
§ 50743 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…
§ 50744 The board may provide for the security of bonds.
§ 50745 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…
§ 50746 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…
§ 50747 Pending the actual issuance or delivery of revenue bonds, the board may issue temporary or interim bonds, certificates or receipts of any denominations…
§ 50748 All bonds, and the interest or income therefrom, are exempt from all taxation in this State other than gift, inheritance and estate taxes.
§ 50749 The bonds issued under this chapter shall be subject to investigation and certification by the State Treasurer under the Districts Securities Law (Chapter 1…
§ 50750 The board may provide for the issuance, sale, or exhange of refunding bonds for the purpose of redeeming or retiring any revenue bonds issued by the board. All…
§ 50751 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…
§ 50752 All bonds issued under the provisions of this chapter are negotiable instruments, except when registered in the name of a registered owner.
§ 50753 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…