CHAPTER 8. Bonds [101280. - 101336.]

Chapter 8 added by Stats. 1971, Ch. 1161.

§§ 101280–101336 · 39 sections

1. ARTICLE 1. Issuance §§ 101280–101298 · 19 sections

   • § 101280 The district may, from time to time, incur a bonded indebtedness as provided in this chapter to pay the cost of acquiring, constructing, or completing the…
   • § 101281 The district shall not incur a total bonded indebtedness which exceeds 5 percent of the assessed value of all the taxable real and personal property within the…
   • § 101282 Whenever the board, by resolution passed by vote of four-fifths of all its members, determines that the public interest or necessity demands the acquisition,…
   • § 101283 In lieu of a resolution passed by the board, proceedings for the issuance of bonds for the purposes provided in this chapter may be initiated by petition of…
   • § 101284 The petition may be presented to the board, and shall be executed and attested in the same manner as provided a petition for the formation of the district in…
   • § 101285 Whenever any petition signed by voters within the district equal in number to at least 15 percent of the total vote cast within the district at the last…
   • § 101286 Within 30 days after the receipt of the petition, the county elections official shall examine the petition and determine the number of valid signers thereof by…
   • § 101287 If the county elections official certifies that the percentage of registered voters signing the petition is less than that required by Section 101284, a…
   • § 101288 If the petition has been executed in the manner provided and by the required number of signers, the secretary of the district shall forthwith transmit to the…
   • § 101289 Upon receiving a petition so executed by the required number of signers, the board shall provide by ordinance for the submission of the proposition of…
   • § 101290 The ordinance calling a special bond election shall fix the date on which the election will be held, and the manner of holding the election and of voting for…
   • § 101291 Propositions for incurring indebtedness for more than one object or purpose, or propositions proposed by resolution or petition, may be submitted at the same…
   • § 101292 The bond election may be held separately, or it may be held on the same day as any other state, county, or city election, or any election held under the…
   • § 101293 If a special bond election is consolidated with any other election, the provisions of this article setting forth the procedure for the calling and holding of…
   • § 101294 The board shall cause the ordinance to be published in accord with Section 6061 of the Government Code; the publication shall be made not less than 30 and not…
   • § 101295 If the ordinance calling the election so provides, the election shall be conducted by the county elections official in accord with the manner of holding the…
   • § 101296 The board shall comply with Article 3 (commencing with Section 9160) of Chapter 2 of Division 9 of the Elections Code, the provisions of which are applicable…
   • § 101297 The votes of a majority of all the voters voting on the proposition at the election are required to authorize the issuance of bonds under this article.
   • § 101298 If the proposition submitted at a special bond election fails to receive the requisite number of votes, the board shall not, within six months after the…
2. ARTICLE 2. Form and Content §§ 101300–101304 · 5 sections

   • § 101300 If the board has appointed a treasurer of the district pursuant to Section 101166, then the word “treasurer” as used in this chapter shall refer to such…
   • § 101301 Bonds authorized by this chapter shall mature serially in amounts to be fixed by the board, except that payment shall begin not later than 10 years from the…
   • § 101302 The bonds shall be issued in such denominations as the board shall determine and shall be payable on the day and at the place or places fixed in the bonds, and…
   • § 101303 The board may, at any time prior to the issuance and sale of any bonds, provide for the call and redemption of any or all of the bonds on any interest payment…
   • § 101304 The bonds shall be signed by the president of the board or by such officer of the district as the board shall by resolution authorize and designate for that…
3. ARTICLE 3. Issue and Sale §§ 101310–101312 · 3 sections

   • § 101310 The bonds may be issued and sold for not less than their par value, but otherwise as the board determines. Before selling any bonds, or any part thereof, the…
   • § 101311 All premiums and accrued interest received on the sale of bonds shall be placed in the fund to be used for the payment of principal of and interest on the…
   • § 101312 In lieu of the immediate levy of a tax to pay the interest, or any part thereof, on any bonded indebtedness incurred in accordance with this chapter, the board…
4. ARTICLE 4. Refunding §§ 101315–101321 · 7 sections

   • § 101315 Whenever the board, by resolution passed by a vote of four-fifths of all its members, determines that the refunding of the whole, or any portion of, the bonded…
   • § 101316 The issuance of refunding bonds shall not be construed as the incurring or increase of an indebtedness within the meaning of this part, and the approval of the…
   • § 101317 Except as otherwise provided, the provisions of this chapter shall substantially govern as to all matters pertaining to the issuance of refunding bonds,…
   • § 101318 Refunding bonds shall bear interest at a rate not exceeding the interest rate on the refunded bonds, but payment of the refunding bonds shall begin not later…
   • § 101319 The proceeds of the sale of refunding bonds shall be applied only to the purchase, or retirement at not more than par and accrued interest, or the call price,…
   • § 101320 In lieu of selling refunding bonds and using the proceeds to purchase or retire the bonds to be refunded, the board may exchange refunding bonds at not less…
   • § 101321 Whenever outstanding bonds are refunded, they shall be surrendered to the treasurer of the district, or the county treasurer, as the case may be, who shall…
5. ARTICLE 5. Status as Investments §§ 101325–101326 · 2 sections

   • § 101325 All bonds, including refunding bonds, issued by a district are legal investments for all trust funds and for the funds of all insurance companies, banks, both…
   • § 101326 All bonds of the district, to the same extent as bonds of any other municipality, are legal for use by any state or national bank or banks in the state as…
6. ARTICLE 6. Validation § 101330 · 1 section

   • § 101330 An action to determine the validity of bonds, including refunding bonds, may be brought pursuant to Chapter 9 (commencing with Section 860), Title 10, Part 2…
7. ARTICLE 7. Revenue Bonds §§ 101335–101336 · 2 sections

   • § 101335 As an alternative procedure for the raising of funds, the district may issue bonds, payable from revenues of any facility or enterprise to be acquired or…
   • § 101336 The district is a local agency within the meaning of the Revenue Bond Law of 1941 (Chapter 6 (commencing with Section 54300), Part 1, Division 2, Title 5 of…