CHAPTER 7. Bonds and Other Evidences of Indebtedness [103500. - 103602.]
Chapter 7 added by Stats. 1974, Ch. 502.
§§ 103500–103602 · 30 sections
ARTICLE 1. Authorization and Issuance of General Obligation Bonds §§ 103500–103513 · 14 sections
- § 103500 Whenever the board deems it necessary for the district to incur a bonded indebtedness for the acquisition, construction, or repair of any or all improvements,…
- § 103501 Notice of the holding of such election shall be given by publishing, pursuant to Section 6066 of the Government Code, the ordinance calling for election in at…
- § 103502 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…
- § 103503 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…
- § 103504 The bonds shall bear interest at a rate or rates not exceeding 7 percent per annum, payable semiannually, except that the first interest payable on the bonds,…
- § 103505 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…
- § 103506 The delivery of any bonds shall be at the office of the district treasurer, and the purchase price may be received in cash or cashier check.
- § 103507 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…
- § 103508 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…
- § 103509 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…
- § 103510 The board may provide for the issuance, sale, or exchange of refunding bonds to redeem or retire any bonds issued by the district upon the terms, at the times…
- § 103511 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.
- § 103512 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,…
- § 103513 If bonds are authorized that contain a provision for special taxes under subdivision (i) of Section 103500, the board may enter into such covenants as may be…
ARTICLE 2. Revenue Bonds §§ 103530–103531 · 2 sections
- § 103530 The district may issue bonds, payable from revenue of any facility or enterprise to be acquired or constructed by the district, in the manner provided by the…
- § 103531 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…
ARTICLE 3. Equipment Trust Certificates §§ 103550–103554 · 5 sections
- § 103550 The district shall have power to purchase transit equipment such as cars, trolley buses and motorbuses, or rolling equipment, and may execute agreements,…
- § 103551 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…
- § 103552 The agreements and leases shall be duly acknowledged before a person authorized by law to take acknowledgments of deeds and in the form required for…
- § 103553 The covenants, conditions, and provisions of the agreements, leases, and equipment trust certificates shall not conflict with any of the provisions of any…
- § 103554 An executed copy of each such agreement and lease shall be filed in the office of the Secretary of State, who shall be entitled to receive one dollar ($1) for…
ARTICLE 4. Improvement Acts and Special Benefit Districts §§ 103570–103571 · 2 sections
ARTICLE 5. Temporary Borrowing §§ 103580–103583 · 4 sections
- § 103580 The district may borrow money for the purpose of defraying general administrative and preliminary expenses of the district, lawfully incurred, prior to the…
- § 103581 At any time prior to the first receipt by the district of revenues from taxation, the county may lend any available money to the district for the purposes of…
- § 103582 The district may borrow money in accordance with the provisions of Article 7 (commencing with Section 53820), or of Article 7.6 (commencing with Section…
- § 103583 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…
ARTICLE 6. Miscellaneous §§ 103600–103602 · 3 sections
- § 103600 The district may bring an action to determine the validity of any of its bonds, equipment trust certificates, warrants, notes, or other evidences of…
- § 103601 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…
- § 103602 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…