CHAPTER 7. Bonds and Other Evidences of Indebtedness [30900. - 30982.]

Chapter 7 added by Stats. 1964, 1st Ex. Sess., Ch. 62.

§§ 30900–30982 · 36 sections

1. ARTICLE 1. Authorization and Issuance of Bonds §§ 30900–30913 · 12 sections

   • § 30900 Whenever the board deems it necessary for the district to incur a bonded indebtedness for the acquisition, construction, development, joint development,…
   • § 30901 Notice of the holding of such election shall be given by publishing, pursuant to Section 6066 of the Government Code, the ordinance calling the election in at…
   • § 30902 If any proposition is defeated by the electors, the board shall not call another election on a substantially similar proposition to be held within six months…
   • § 30903 If 60 percent of the electors voting on the proposition vote for it, then the board may, by resolution, at such time or times as it deems proper, issue bonds…
   • § 30904 The bonds shall bear interest at a rate or rates not exceeding the maximum rate allowed by law, payable semiannually, except that the first interest payable on…
   • § 30905 The bonds may be sold as the board determines by resolution but for not less than par. Before selling the bonds, or any part thereof, the board shall give…
   • § 30906 Delivery of any bonds may be made at any place either inside or outside the State, and the purchase price may be received in cash or bank credits.
   • § 30907 All accrued interest and premiums 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…
   • § 30908 After the expiration of three years after a bond election the board may determine, by ordinance adopted by a vote of two-thirds of all the members of the…
   • § 30909 Whenever the board deems that the expenditure of money for the purposes for which the bonds were authorized by the voters is impractical or unwise, it may, by…
   • § 30912 The provisions of Article 4 (commencing with Section 53500), Chapter 3, Part 1, Division 2, Title 5 of the Government Code are applicable to the district.
   • § 30913 Any bonds which shall be issued under the provisions of this article shall be legal investment for all trust funds; for the funds of insurance companies,…
2. ARTICLE 2. Revenue Bonds §§ 30930–30932 · 3 sections

   • § 30930 Whenever the board deems it necessary for the district to incur a revenue bonded indebtedness for the acquisition, construction, development, joint…
   • § 30931 The district is hereby declared to be a local agency within the meaning of the Revenue Bond Law of 1941. The term “enterprise” as used in the Revenue Bond Law…
   • § 30932 Revenue bonds issued under the provisions of this Article 2 shall be subject to the priorities set forth in Section 30638. Revenue bonds shall have a priority…
3. ARTICLE 3. Equipment Trust Certificates §§ 30940–30943 · 4 sections

   • § 30940 The district shall have power to purchase equipment such as cars, trolley buses and motorbuses, rolling equipment, and may execute agreements, leases and…
   • § 30941 The agreement to purchase or lease may direct the vendor or lessor to sell and assign or lease the rolling equipment to a bank or trust company duly authorized…
   • § 30942 The agreements and leases shall be duly acknowledged before some person authorized by law to take acknowledgments of deeds and in the form required for…
   • § 30943 The covenants, conditions and provisions of the agreements, leases, and equipment trust certificates shall not conflict with any of the provisions of any…
4. ARTICLE 4. Temporary Borrowing §§ 30950–30952 · 3 sections

   • § 30950 Prior to the time moneys authorized by special taxes under Part 16 (commencing with Section 36000) of Division 2 of the Revenue and Taxation Code and already…
   • § 30951 The district may borrow money in anticipation of the sale of bonds which have been authorized to be issued, but which have not been sold and delivered, and may…
   • § 30952 (a) Notwithstanding any provision of Article 7.7 (commencing with Section 53859) of Chapter 4 of Part 1 of Division 2 of Title 5 of the Government Code, the…
5. ARTICLE 5. Improvement Districts §§ 30960–30970 · 11 sections

   • § 30960 Whenever the board deems it necessary for the district to incur a bonded indebtedness for the acquisition, construction, development, joint development,…
   • § 30961 Notice of said hearing shall be given by publishing a copy of the resolution declaring the necessity pursuant to Section 6066 of the Government Code prior to…
   • § 30962 At the time and place so fixed, or at any time and place to which the hearing is adjourned, the board shall proceed with the hearing. At the hearing, any…
   • § 30963 The board may change the purposes for which the proposed debt is to be incurred, or the estimated cost, or the amount of bonded debt to be incurred, or the…
   • § 30964 The purposes, estimated cost, amount of bonded debt, or boundaries shall not be changed by the board except after notice of its intention to do so, given by…
   • § 30965 At the time and place so fixed, or at any time and place to which the hearing is adjourned, the board shall proceed with the hearing. At the hearing, any…
   • § 30966 At the conclusion of the hearing, the board shall, by resolution, determine whether it is deemed necessary to incur the bonded indebtedness, and, if so, the…
   • § 30967 After the formation of the improvement district or districts within the district pursuant to this article, all proceedings for the authorization and issuance…
   • § 30968 After the board has made its determination of the matters required to be determined by resolution pursuant to Section 30966, and if the board deems it…
   • § 30969 Thereafter the provisions relating to the authorization and issuance of bonds, Sections 30901 to 30914, inclusive, shall apply.
   • § 30970 Any action or proceeding, wherein the validity of the formation of the improvement district or districts or of any bonds or of the proceedings in relation…
6. ARTICLE 6. Miscellaneous §§ 30980–30982 · 3 sections

   • § 30980 The district may bring an action to determine the validity of any of its bonds, equipment trust certificates, warrants, notes, or other evidences of…
   • § 30981 Notwithstanding any other provisions of this part or any other law, the provisions of all ordinances, resolutions and other proceedings in the issuance by the…
   • § 30982 All bonds and other evidences of indebtedness issued by the district under the provisions of this part, and the interest thereon, are free and exempt from all…