ARTICLE 16. Acquisition and Cancellation of Bonds of Nonconsenting Bondholders

Article 16 added by Stats. 1951, Ch. 331.

§§ 59590–59598 · 9 sections

• § 59590 If the holders of one or more of the original bonds do not enter any proposal or contract with the legislative body to refund the bonds but the holders of 75…
• § 59591 Any local agency authorized by this chapter to appropriate money to aid in refunding the original bonds of the district may make an advancement, contribution,…
• § 59592 When any local agency, person, or corporation advances money for the payment or retirement of the original bonds of nonconsenting holders, the legislative body…
• § 59593 If the legislative body makes all or part of such advancement it may reimburse the local agency of which it is the legislative body, entirely or partially by…
• § 59594 Any cash collected on reassessments and not required to pay consenting bondholders may also be used to reimburse in whole or in part any local agency, person,…
• § 59595 The legislative body may use any other method of raising funds for the payment or retirement of the original bonds of nonconsenting bondholders which will…
• § 59596 When money is placed in any fund for the retirement or payment of the original bonds of nonconsenting holders it shall be used only for that purpose. After all…
• § 59597 If the proposals or contract with the bondholders so provides, the legislative body may sell all of the new bonds for cash and pay the bondholders in cash at a…
• § 59598 If the discharge of the original bonds of any nonconsenting holders at less than par has been authorized by any final decree or order confirming a plan of…