ARTICLE 7. Bonds [49160. - 49181.]
Article 7 added by Stats. 1989, Ch. 1095, Sec. 22.
§§ 49160–49181 · 22 sections
- § 49160 No general obligation bonds shall be issued by the district unless the issuance thereof is approved by the electors of the district at a special election as…
- § 49161 The resolution shall state all of the following: (a) The general objectives and purposes for which it is proposed to incur an indebtedness. (b) A general…
- § 49162 For purposes of the bond election, the district board may consolidate into one precinct several precincts established for general election purposes and…
- § 49163 An election board consisting of one inspector, one judge and one clerk shall be appointed by the district board for each precinct.
- § 49164 Only voters registered in the district are eligible to vote at the bond election.
- § 49165 A resolution calling the election shall be published once a week for three successive weeks in a newspaper having a general circulation in the district and…
- § 49166 If two-thirds of the votes cast are in favor of incurring the bonded indebtedness as proposed, bonds of the district for the amount stated in the resolution…
- § 49167 The validity of the bonds after their issuance shall not be questioned in any court except on the ground that the provisions of this chapter authorizing their…
- § 49168 The district board shall prescribe, by resolution, the form of the bonds and interest coupons. The bonds shall be payable at the times and at a place to be…
- § 49169 The bonds shall be issued in the denominations that the district board determines, except that no bond shall be of a denomination less than one hundred dollars…
- § 49170 The bonds shall be signed by the chairperson of the district board and countersigned by the county auditor, and the seal of the district board shall be…
- § 49171 If any officer whose signature or countersignature appears on the bonds ceases to be an officer before the delivery of the bonds to the purchaser, his or her…
- § 49172 The district board may issue and sell bonds of the district at not less than par value, and the proceeds shall be placed in the treasury of the county.
- § 49173 All premiums and accrued interest received shall be paid into the fund to be used for the payment of principal of, and interest on, the bonds and the remainder…
- § 49174 (a) The funds in the construction fund shall be applied exclusively to the purposes and objects mentioned in the resolution calling the bond election. (b)…
- § 49175 If the proposition of issuing bonds submitted at the bond election fails to receive the requisite number of votes, the district board may, after expiration of…
- § 49176 If bonds have been issued by the district and the proceeds of the sale have been expended and the district board, by resolution passed by a vote of two-thirds…
- § 49177 Bonds and interest thereon shall be paid by revenue derived from an annual tax upon the property in the district, and all the property in the district shall be…
- § 49178 (a) 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…
- § 49179 Whenever a district has issued bonds, in its annual statement to the board of supervisors as to the amount of money needed for district purposes during the…
- § 49180 If the district board fails to furnish to the board of supervisors a statement of the amount of money necessary to pay the principal of, and interest on, the…
- § 49181 The principal of, and interest on, the bonds shall be paid by the treasurer of the county in the manner prescribed by law for the principal of, and interest…