ARTICLE 4. General Obligation Bonds
Article 4 added by Stats. 1959, Ch. 1598.
§§ 7210–7227 · 18 sections
- § 7210 Whenever the board deems if necessary for the district to incur a general obligation bonded indebtedness for (a) the acquisition, construction, completion or…
- § 7211 The resolution shall state: (a) The purpose for which the proposed debt is to be incurred, which may include expenses of all proceedings for the authorization,…
- § 7212 Notice of the holding of the election shall be given by publishing the resolution calling the election pursuant to Section 6066 of the Government Code in at…
- § 7213 The returns of the election shall be made, the votes canvassed at least seven days following the election, and the results thereof ascertained and declared in…
- § 7214 No irregularities or informalities in conducting the election shall invalidate the same, if the election shall have been otherwise fairly conducted.
- § 7215 Any action or proceeding wherein the validity of the election or of the proceedings in relation thereto is contested, questioned or denied, shall be commenced…
- § 7216 If from the election returns it appears that more than two-thirds of the votes cast upon the measure were in favor of and assented to the incurring of the…
- § 7217 The full amount of bonds may be divided into two or more series and different dates fixed for the bonds of each series. The maximum term which the bonds of any…
- § 7218 The board shall, by resolution, prescribe the form of the bonds and the form of the coupons attached thereto and fix the time when the whole or any part of the…
- § 7219 The bonds shall bear interest at a rate or rates not to exceed 6 percent per annum payable semiannually, except that interest for the first year shall be…
- § 7220 The board may also provide for the call and redemption of bonds prior to maturity at the time and prices and upon such other terms as it may specify. A bond…
- § 7221 The denomination of the bonds shall be stated in the resolution providing for their issuance, but shall not be less than one hundred dollars ($100).
- § 7222 The principal and interest shall be payable in lawful money of the United States at the office of the treasurer of the district or at any other place or places…
- § 7223 The bonds shall be dated, numbered consecutively, and be signed by the president of the board and the treasurer of the district and countersigned by the…
- § 7224 Before selling the bonds, or any part thereof, the board shall give notice inviting sealed bids in such manner as it may prescribe. If satisfactory bids are…
- § 7225 The proceeds from the sale of the bonds shall be paid into the treasury of the district and placed to the credit of a special improvement fund and expended…
- § 7226 Any action or proceeding, wherein the validity of any such bonds or of proceedings in relation thereto is contested, questioned or denied, shall be commenced…
- § 7227 Any general obligation bonds issued by a district shall have the same force, value and use as bonds issued by any city and shall be exempt from all taxation…