ARTICLE 3. Bond Issuance

Article 3 added by Stats. 1953, Ch. 151.

§§ 22776–22786 · 11 sections

• § 22776 If two-thirds of the votes cast at the election were for the issuance of bonds, the board shall enter that fact in its minutes. The board shall certify all of…
• § 22777 The board of supervisors shall issue the district bonds in the number and amount specified in the bond proceedings. The board of supervisors shall provide that…
• § 22778 By an order entered in its minutes, the board of supervisors shall: (a) Prescribe the form of the bonds and of the interest coupons. (b) The manner in which…
• § 22779 The total amount of bonds issued shall not exceed 15 percent of the taxable property of the district as shown by the last equalized assessment books of the…
• § 22780 The term of the bonds shall not exceed 40 years.
• § 22781 The bonds shall be payable in lawful money of the United States as to principal and interest.
• § 22782 The board of supervisors may make the principal and interest of the bonds payable at the office of the treasurer of the principal county, at such other place…
• § 22783 The bonds shall be sold at the times and in the amounts prescribed by the board of supervisors, but for not less than par.
• § 22784 Before selling all or any part of the bonds, the board of supervisors shall advertise for bids pursuant to Section 6066 of the Government Code in a newspaper…
• § 22785 If satisfactory bids are received the bonds offered for sale shall be awarded to the highest bidder. If no bids are received or the board of supervisors…
• § 22786 The proceeds of the sale of the bonds shall be deposited in the treasury of the principal county to the credit of the improvement fund of the district, and may…