ARTICLE 1. Authorization and Issuance of General Obligation Bonds [103500. - 103513.]
Article 1 added by Stats. 1974, Ch. 502.
§§ 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…