ARTICLE 9. Refunding of Bonded Indebtedness of Local Agencies
Article 9 added by Stats. 1971, Ch. 1710.
§§ 53550–53569 · 14 sections
- § 53550 The following terms shall have the following meanings: (a) “Local agency” means public district, public corporation, authority, agency, board, commission,…
- § 53551 The legislative body of any local agency may issue negotiable coupon bonds, to be denominated refunding bonds, for the purpose of refunding any of the…
- § 53552 Whenever the legislative body of a local agency determines that prudent management of the fiscal affairs of the local agency requires that it issue refunding…
- § 53553 When the legislative body determines to issue refunding bonds pursuant to this article, it shall adopt a resolution providing for the issuance of such bonds.…
- § 53554 Such refunding bonds shall: (a) Be negotiable in form; (b) Recite that they are bonds of the local agency issuing the bonds; (c) Recite that they are issued…
- § 53555 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…
- § 53556 The designated costs of issuing the refunding bonds may be paid by the purchaser of the refunding bonds or may be paid from any other legally available source,…
- § 53557 Any proceeds of sale of any refunding bonds may be deposited in escrow or trust with any bank or trust company within or without the state, or both within and…
- § 53558 Such proceeds and investments in escrow or trust shall be in an amount at the time of issuance of such refunding bonds which is certified by a certified public…
- § 53559 Following the issuance of any refunding bonds pursuant to this article, the legislative body of the local agency shall provide for the payment of principal and…
- § 53560 Upon the issuance, sale and delivery or exchange of refunding bonds pursuant to this article: (a) If only the refunding bonds remain outstanding, such…
- § 53561 It is hereby declared that it is a public purpose for a local agency to issue refunding bonds for the purposes set forth in this article and to invest and…
- § 53562 The powers conferred by this article are in addition and supplemental to, and not in substitution for, and the limitations imposed by this article shall not…
- § 53569 Before selling any refunding bonds subject to the provisions of this article, any local agency shall advertise such bonds for sale at public sale and shall…