CHAPTER 6. Bonds

Chapter 6 enacted by Stats. 1939, Ch. 60.

§§ 6640–6694.3 · 30 sections

1. ARTICLE 1. Generally §§ 6640–6655 · 15 sections

   • § 6640 A district may issue bonds as provided in this part.
   • § 6641 A district may issue bonds to raise money for any of the purposes stated in Section 6512 hereof.
   • § 6642 By order entered in its minutes, when in its judgment it is advisable, the board may and shall, upon a petition of a majority of the qualified electors…
   • § 6643 The order calling the election may submit as one proposal the question of issuing bonds to make all of the outlays, or so many of them as may be selected, or…
   • § 6644 If, at the election, two-thirds of the votes cast are in favor of the issuance of bonds, the board may issue and dispose of the bonds as proposed in the order…
   • § 6645 Bonds issued by the district under the provisions of this part shall be of such denomination or denominations as the board determines.
   • § 6646 The bonds shall be payable in lawful money of the United States at the office of the treasurer and bear interest at a rate not exceeding 8 percent per annum,…
   • § 6647 No bonds shall be payable in installments, but each shall be payable in full on the date specified therein by the board, which need not be an anniversary of…
   • § 6648 Each bond shall be signed by the president and countersigned by the secretary. The bonds shall be numbered consecutively, beginning with number one, and shall…
   • § 6649 The bonds shall be sold by the board in such manner and in such quantities as may be determined by it in its discretion but not less than 95 percent of the par…
   • § 6650 The term of bonds issued shall not exceed forty years.
   • § 6651 The outstanding bonds of the district shall not at any one time exceed 15 percent of the assessed value of the real and personal property of the district,…
   • § 6653 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…
   • § 6654 (1) An issue of bonds is hereby defined to be the aggregate principal amount of all of the bonds authorized to be issued in accordance with a proposal…
   • § 6655 In determining the amount of bonds to be issued, the legislative body may include: (a) All costs and estimated costs incidental to or connected with the…
2. ARTICLE 2. Bonds of Annexed Territory §§ 6660–6661 · 2 sections

   • § 6660 At any time after the annexation of territory, the board may issue bonds to raise money for any of the purposes stated in Section 6512 hereof in or for the…
   • § 6661 The provisions of this part with reference to bonds in annexed territory do not limit the powers or alter the procedure provided for the issuance of bonds by…
3. ARTICLE 3. Reconstruction Bonds § 6670.1 · 1 section

   • § 6670.1 Bonds of the district for the purpose of providing funds for the construction of a larger main sewer or a different system shall be authorized and issued in…
4. ARTICLE 4. Exchange of Bonds §§ 6680–6683 · 4 sections

   • § 6680 After a district organized under the Sanitary District Act of 1891, or Chapter 161, Statutes of 1891, has been reorganized under this part the entire amount of…
   • § 6681 The new bonds shall be payable as nearly as practicable at the same time as the installments on the old bonds and in equal amounts. Interest on the new bonds…
   • § 6682 The expenses of the exchange shall be borne by the holder of the bonds presented for exchange.
   • § 6683 After the exchange the old bonds shall be canceled by punching holes in the signatures, and shall be retained by the county treasurer.
5. ARTICLE 5. Refunding Bonds §§ 6690–6694.3 · 8 sections

   • § 6690 The board may cause refunding bonds to be issued for the purpose of refunding any or all outstanding bonds of the district.
   • § 6691 Refunding bonds shall be issued and delivered only when the bonds to be refunded have matured or are about to mature or are subject to retirement before…
   • § 6692 Except as otherwise provided in this article, refunding bonds shall be issued in substantially the manner and form prescribed for the issuance of other bonds…
   • § 6693 The board desiring to refund any of its bonds may formulate a proposed plan for that purpose and shall call an election for the purpose of authorizing the…
   • § 6694 Only a majority vote shall be required to authorize the issuance of refunding bonds.
   • § 6694.1 The maturity date of refunding bonds shall be fixed by the board but in no case shall the maturity of any such bonds be more than forty years from the date…
   • § 6694.2 The rate of interest on refunding bonds shall not exceed 8 percent per annum payable semiannually.
   • § 6694.3 Refunding bonds may be issued in a principal amount sufficient to provide funds for the payment of the bonds to be refunded thereby and in addition all…