ARTICLE 4. Additional Sacramento-Yolo Port District Bonds
Article 4 added by Stats. 1961, Ch. 1457.
§§ 6939.4–6939.17 · 14 sections
- § 6939.4 Pursuant to this article, the Sacramento-Yolo Port District may also create an additional bonded debt, in addition to all other indebtedness authorized by the…
- § 6939.5 This bonded indebtedness may be created solely for the purpose of providing funds for the acquisition, construction, improvement, or extension of…
- § 6939.6 Any bonds issued pursuant to this article shall be authorized by ordinance passed by two-thirds of all of the members of the board. The ordinance shall not…
- § 6939.7 The bonds of any issue may be issued in one or more series. The bonds of such series shall be payable within 30 years from their date and shall mature serially…
- § 6939.8 The bonds may be issued in such denominations as the board determines, except that no bond shall be of a denomination less than one hundred dollars ($100) nor…
- § 6939.9 If any officer whose signature or countersignature appears on the bonds or coupons ceases to be an officer before the delivery of the bonds to the purchaser,…
- § 6939.10 The form of the bonds shall be prescribed by the board and they shall be signed by the officer or officers that the board designates. The coupons appertaining…
- § 6939.11 The income and revenue derived or to be realized from the harbor improvement acquired, constructed, improved or extended from the proceeds of the bonds shall…
- § 6939.12 The special fund shall be applied, secondly, to the creation of a sinking fund, herein designated as “sinking fund,” to provide for the payment of the…
- § 6939.13 Any additional revenues over and above the amounts required to be deposited in the interest fund and the sinking fund, may be deposited in an operation fund,…
- § 6939.14 Surplus revenues in the operation fund may be deposited either in the interest fund or any reserve fund created to secure any bonds or in the sinking fund, but…
- § 6939.15 The board, in and by the ordinance authorizing the issuance of the bonds, shall hypothecate and allocate all of the revenues to be realized from the…
- § 6939.16 Whenever the revenues of the district are, or in the opinion of the board will be insufficient to provide for the payment in full of the principal or interest…
- § 6939.17 The Legislature hereby finds and declares that because of the unique, complex problems existing with respect to the Sacramento-Yolo Port District, as a large…